A Spendthrift Trust Might Be Reachable by Creditors
The whole point of a spendthrift trust is to protect the trust’s assets from the beneficiary’s creditors. The name hints at the purpose: the point is to protect someone who can’t control spending. Even if the necessary protection is from himself or herself. Generally, a spendthrift trust can work very well for its intended purpose. […]
The Personal Property List: An Important Part of Your Plan
Have you completed a personal property list to go with your will (and trust)? It’s an important part of your estate plan.
When Does Your Family Member Need Guardianship?
Suppose you have a 17-year-old child with a developmental or cognitive disability. Do you need guardianship before they turn 18? Is it OK to wait, or to forego guardianship altogether? First: what is guardianship? While your children are minors, you have the authority to make medical and placement decisions for them (we’re ignoring the possibility […]
Trust Protector’s Power Tested in California Case
We have written before about “trust protectors,” a relatively new concept in American trust law. Because there is not a lot of case law on the subject, the limits of a trust protector’s power (and duty) has not been well-established. Now a new California case fills in a little more detail. Trust protectors — a […]
Should You Write Your Own Will?
Writing a will shouldn’t be that hard. There’s plenty of online help and advice, and forms readily available. Shouldn’t you be able to write your own will? What could go wrong? Before you consider whether to write your own will, think about the kinds of problems that might arise. If the problems are not great, […]
Disinherited Step-Grandson Lacks Standing to Challenge Codicil
Will challenges are far less common than most people think. One reason: few people have any basis on which to challenge a will, even if they feel aggrieved. In legal terms, most potential challengers simply lack any “standing” to contest a will. A recent Texas case illustrates the concept nicely. Lucy Lee’s will and codicils […]
Arizona Adopts Electronic Will Law Effective Next Year
Perhaps you are waiting to sign your will. You might be thinking that you should be able to sign an electronic will. Maybe you want to hold off until then. Well, you will only have another year to wait. What is an electronic will? So what is the big deal, anyway? Can’t you sign your […]
Father Disinherited From Son’s Estate For Abandonment
A child — particularly a minor child — can inherit a share of an absent parent’s estate even after abandonment by the parent. But what about the less common circumstance of a child dying young. Will abandonment by a parent prevent the parent from inheriting from the child’s estate? Brandon’s story In 1989 a child […]
New Social Security Rules Ease Trust Eligibility Process
How can you meet Social Security rules on asset and income eligibility? If you have resources, you might be able to transfer them to a special needs trust. The idea has been around for quite a while. Still, a lot of questions have lingered over details of the eligibility rules. A recent release of new […]
Notary as Witness: Addressing Problems With a Will
In Arizona (as in most states) a will must be witnessed to be valid. Having your will notarized does not satisfy the requirement. Unless, that is, the courts approve the notary as witness. Actually, we started with a little misdirection. Not every will has to have two witnesses. Let’s explain. But first let us remind […]