It is often the case that two or more individuals are named trustees in a trust document. A trustee is an individual who manages and distributes trust assets, and co-trustees perform these duties together. Sometimes
A “spendthrift clause,” enforceable in many states, is a provision written into an irrevocable trust document that restricts creditors of a beneficiary from reaching the trust’s property. The concept is far from new, but for
As an estate planning attorney, I make every effort to remind my clients to keep their estate plans current. My general rule of thumb is to have your estate plan reviewed every four years, or, any
The University of Texas file a lawsuit claiming ownership of a Andy Warhol silkscreen of Farrah Fawcett, which it says Farrah bequeathed to the school in 2009 when she died in 2009 at the age
In a recent decision from California, the Court held that a beneficiary seeking to compel the trustee to distribute funds pursuant to the trust did not violate the trust’s no-contest clause. The trust in Arnall
If you acquired property from a decedent who died in 2010, special rules may apply in determining tax items including basis, gain, loss, holding period, and character for the property. Section 301(c) of the Tax
Dennis Hopper’s death in May has left his estate in chaos and open to a high-profile and expensive lawsuit. Hopper was married to his 5th wife, Victoria Duffy, back in 1996. They sign a pre-nuptial
From the September 2010 issue of Private Wealth – “Furry Beneficiaries” Some of the nation’s wealthiest people are leaving huge chunks of their estates to their pets—to the chagrin of their human relatives.