Trust Amendment by Email Might Be Valid
Last week we wrote about the late Anne Heche‘s emailed “will” that might be judged valid under California law. Our own article reminded us of a similar, but different, story we recently read about a less-famous electronic estate plan. The key difference: it involved an attempt at a trust amendment by email, rather than an […]
Arizona Court Asserts Jurisdiction Over Texas Trust
Suppose you live in Texas, and you establish a revocable living trust. Your trust document is clear. The trust is a Texas trust, and is “to be governed, construed, and administered” according to Texas laws. Does that mean any challenge by trust beneficiaries must be filed in Texas courts? The Roger McCarty Trust Roger McCarty […]
Trust Modification May Not Bind Future Beneficiaries
Families often agree to modify the effect of a decedent’s will or trust. Does such a modification always bind future beneficiaries? A recent California case provides an example. It also gives us a chance to explore differences from state to state. The California facts McKie Roth, Sr., died in 1988. His second wife, Yvonne, survived […]
Trust Modification After Beneficiary’s Disability
A recent Alabama court case addressed trust modification after a beneficiary’s serious injury. The lesson learned: a trustee must act quickly.
Beneficiaries Permitted to Modify Trust Terms by Agreement
OCTOBER 19, 2015 VOLUME 22 NUMBER 38 Not every client we speak with wants to set up a trust for generations of descendants, but some do. The notion of allowing assets to grow for two or three (or more) generations can be attractive. It is difficult, of course, to imagine what one’s grandchildren and great-grandchildren […]
Accounting Requirements for Irrevocable Trusts in Arizona
FEBRUARY 4, 2013 VOLUME 20 NUMBER 5 Arizona adopted a version of the Uniform Trust Code in 2008, to be effective at the beginning of 2009. The UTC has been the subject of much discussion across the country — it has been adopted in about half the states, and soundly rejected in a few others. […]
Arkansas Court Refuses to Allow Trust Modification
JUNE 25, 2012 VOLUME 19 NUMBER 24 A recent Arkansas Court of Appeals case reminds us (yet again) how important it can be to plan for the possibility of a future disability in your family. Here’s the background (with names changed to help protect internet privacy): Ruth Olsen, like thousands of other seniors, created a […]
Estate Planning: It Shouldn’t Be About the Lawyers
AUGUST 22, 2011 VOLUME 18 NUMBER 30 Of course it usually makes sense to place your estate planning wishes in the hands of your lawyer to make sure documents are correctly drawn and your wishes carried out. Lawyers can be very protective of what they perceive as their clients’ wishes and best interests, and sometimes […]
What Is a Trust Protector? Do You Need One In Your Trust?
JUNE 27, 2011 VOLUME 18 NUMBER 23 We have written before about Arizona’s new Trust Code, and the Uniform Trust Code on which it is based. The “new” law (it became effective on January 1, 2009, so it’s not that new any more) included a number of changes to the way trusts have worked in […]
Arizona Legislature Adopts Probate Changes
APRIL 25, 2011 VOLUME 18 NUMBER 15 Last week the Arizona Legislature adjourned for the year. Just before closing down the session legislators adopted a number of new measures dealing with probate court, trusts and especially guardianship and conservatorship matters. Most of the bills passed by the legislature are still awaiting the Governor’s signature, but […]
