The Trustee’s Guide to Dementia and Incapacity
Key Takeaways Introduction Helping a parent or loved one who has dementia or Alzheimer’s 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 […]
How Is a Trustee Removed?
If you have questions about how the trustee of your family trust is acting, you may want to consider having them removed. However, removing a trustee can be a costly and challenging process. Once appointed, trustees have numerous rights and responsibilities. However, they typically do not have the right to quit being a trustee without […]
How Do You Terminate a Trustee?
Executive summary Introduction Creating a revocable living trust is an important step in comprehensive estate planning. Typically, you act as the trustee, ensuring your assets are managed competently while still alive. Then, when you pass away, your designated successor trustee will manage and distribute the trust’s property. When you appoint your successor trustee, you should […]
Who Has the Power to Remove a Trustee?
A trustee is an individual who administers a trust on behalf of the beneficiaries. Trustees are responsible for managing trust assets, including maintaining the property and making sure it is productive – i.e. generates income or profit. However, a trustee’s job can be challenging and downright impossible if they don’t have the skills or expertise […]
Can You Contest a Will if Someone Has Dementia?
Key Takeaways Introduction A person can contest a will if they believe the person who executed it was suffering from dementia or Alzheimer’s at the time. However, whether the testator’s dementia is sufficient to invalidate the will depends on many factors, such as the nature and severity of their dementia symptoms. Is a will legal […]
Can You Contest a Codicil to a Will?
A codicil is a legal document that allows you to make changes to your will without having to rewrite the entire document. Codicils are often used to make minor updates, such as changing beneficiaries or adding bequests. It operates in the same way as an amendment to a trust, despite going by a different name. […]