Can a Conservator Change the Beneficiaries on an Account?
Can a court-appointed conservator change the beneficiaries on an individual’s investment accounts? It’s a question that comes up from time to time, and there is no clear answer. First, some definitions of terms. In Arizona, a conservator is appointed to handle the finances of a person who is in need of protection. That’s different from […]
Attorney Fees for Guardian Approved Over Objection
If you act as guardian or conservator, you know that it can be a challenging job. Sometimes you need legal counsel. If you incur attorney fees, can you charge them to the estate? The general rule is that you can collect your attorney fees from the estate. There are exceptions. If your actions benefit you […]
Irrevocable Trust Might Still be Terminated by Beneficiary
Might an irrevocable trust become revocable? That was the question faced by a South Dakota probate judge and, more recently, the state’s Supreme Court. It turns out that the trust’s beneficiary may be able to insist on termination of an irrevocable trust. A South Dakota story Mary Novotny, a widow living near the Nebraska border, […]
“Vest Pocket” Deed Is Valid to Transfer Family Farmland
OCTOBER 25, 2010 VOLUME 17 NUMBER 33 It has been a while since we wrote about “vest pocket” deeds. That reflects the reality that they are more common in fiction and mythology than in the real world of legal proceedings, but they occasionally do crop up. The problems of validity and effect can involve lawyers […]
Conservator May Be Able To Act As Successor Trustee
AUGUST 16, 2010 VOLUME 17 NUMBER 26 Let’s say you have created a revocable living trust, and you have named yourself as trustee. You also name your two children as successor trustees, to act together upon your death or incapacity. Two years later you become incapacitated; because of a dispute between your two children about […]
