Grandson’s Trust Not Countable Asset Even After Modification
Too often, people fail to adequately plan for their children (or grandchildren) who have disabilities. This week we read a Nebraska case about a grandson’s trust that put his public benefits at risk. His grandmother had created a trust for him, but it was not a “special needs” trust. The courts fixed the problem, but […]
Disappointed Heirs Not Permitted to Make Claim Against Dad’s Lawyers
JANUARY 25, 2016 VOLUME 23 NUMBER 4 Like a lot of Americans, Fred Brown (though that’s not his real name) had a complicated family life. He had been married twice, and had two daughters — Martha and Sally — from his first marriage. He was still married to Barbara, and she had two children from […]
What To Do About a Child Who Can’t Handle Money
SEPTEMBER 1, 2014 VOLUME 21 NUMBER 31 A reader asks: “could you do an article on how to leave inheritance to a son who is not good at handling money? Should I leave his portion to another son who is good at it? They are very close and would get along.” First we have a […]
How To Avoid Probate — And What Doesn’t
APRIL 23, 2012 VOLUME 19 NUMBER 16 Let us try to demystify probate avoidance for a moment. Note that for the purposes of this description, we are not going to argue with you about whether avoidance of probate is good, bad, desirable or a foolish goal — we start here with the assumption that probate […]
EINs for Trusts: The Questions Just Keep Pouring In
APRIL 16, 2012 VOLUME 19 NUMBER 15 Tax ID numbers for trusts. When we first wrote about this topic, we did not appreciate how interested our readers would be. We thought that the issue was sort of dry, actually, and that most people would have asked their lawyer or their accountant for direction. It has […]
Failure to Distribute Estate On Time Leads to Damages Award
JULY 5, 2011 VOLUME 18 NUMBER 24 Family members sometimes assume that an estate will be ready for distribution within days or weeks of a death. Those familiar with the probate process usually appreciate that it is more likely that distribution will be between six months to a year after death — and sometimes longer. […]
When Is a Living Trust More Appropriate Than a Will?
JUNE 6, 2011 VOLUME 18 NUMBER 20 Last week we answered a pair of questions from our readers and solicited others. Almost immediately we received an excellent question: What are the factors you look at to determine if a client is best served w/ a will and durable power of attorney or a living trust? […]
Benefits Eligibility Irrelevant in Lawsuit Over Trust Terms
FEBRUARY 6, 2011 VOLUME 18 NUMBER 5 What can a parent do to ensure continuing care for his or her adult child with a disability? That was the dilemma facing Californian Earl Blacksher in the late 1980s. His daughter Ida McQueen lived with him in the family home in Oakland. She was developmentally disabled, and […]
