Can a Trustee Sell Property Without All Beneficiaries Approving?
A trustee does not need beneficiary approval to sell trust property. However, a trustee who wants to avoid litigation would be wise to at least seek approval of the trust beneficiaries, and, at a minimum, be able to substantiate why the property was sold and how that sale benefited the trust beneficiaries. Who Has the […]
How Hard Is It to Contest a Trust?
Contesting a trust can be financially challenging, time consuming and emotionally taxing. Lawsuits are expensive. Gathering the information you need to support your case. Filing your contest petition with the court. Taking discovery. Participating in mediation or a settlement conference. Taking your case to trial with experts to help prove your case. All these things cost […]
When a Husband Dies, What Is the Wife Entitled To?
Upon losing her husband, a surviving wife’s inheritance will be determined based on a combination of state law, the husband’s last will and testament, any pre-marital or post-marital agreements, title to property, and beneficiaries listed on any investment accounts, retirement accounts, and insurance policies. However, barring exceptions (such as pre and post-nuptial agreements), every state […]
What Is the Role of a Trustee?
The trustee is the person who manages all the property and assets that are included within a trust. A trustee has a fiduciary duty to act in the best interest of the trust and its beneficiaries. Individuals and couples often decide to put some or all their assets into a revocable living trust for estate […]
What Is a Preliminary Trust Distribution?
Trusts are legal creations designed to protect assets and distribute them over a period of time under certain conditions. The trust is created by a grantor, who initially owns the property, for beneficiaries, who eventually receive the assets. Therefore, trust distributions are an essential part of the operations and management of any trust. Trusts may […]
The Trustee’s Guide to Dementia and Incapacity
Helping a parent or loved one who has dementia is always a challenging task. Considering and executing an estate plan for someone with a diminished capacity has an added element of difficulty. Depending on your loved one’s individual case, they may lack the legal ability to execute and sign vital estate planning documents like wills […]