Trusts and Estates Law Blog

Will I Lose my House if I File?

Friday, October 30, 2009 by Daniel A. DeBruyckere

If you need bankruptcy advise and are located in either Massachusetts or New Hampshire contact Debruyckere and Roth. The Massachusetts bankruptcy lawyers have years of experience and provide you with all the answers you need before filing. They also have the jurisdiction to deal with New Hampshire bankruptcyRead More
Posted at 17:17 PM  |  PERMALINK
Topic: Trusts and Estates

Gifting - Who Gives and Who Gets?

Friday, October 30, 2009 by James R. Modrall

Transfer of wealth to the next generation or generations is part of normal human desire, and a foundation of estate planning and planning for wealth preservation. Increasingly, clients are interested in gifting assets, usually to children and grandchildren. This is part of the normal transfer of wealth from one generation to the next generation. Parents and grandparents make continual and regular gifts to children and grandchildren, generally as holiday presents or to meet special needs such ... Read More

Posted at 10:12 AM  |  PERMALINK
Topic: Trusts and Estates

Trusts - New Michigan Rules

Wednesday, October 7, 2009 by James R. Modrall

New Michigan trust rules go into effect April 1, 2010. The new trust statutes were enacted this summer after many years of debate. A special panel of Michigan attorneys and bankers has been working on a local adaptation of the Uniform Trust Code (UTC).  The UTC (and possibly a new estate tax law) will no doubt be an encouragement to all clients and attorneys to review trust documents to determine whether amendments should be made before April 1, 2010, to take advantage of present law, ... Read More
Posted at 13:33 PM  |  PERMALINK
Topic: Trusts and Estates

Louisville Revocable Trusts and Irrevocable Trusts

Friday, September 11, 2009 by John H. Ruby

John H. Ruby & Associates advises clients on the differences between revocable trusts, Louisville trust funds, irrevocable trusts, so that your beneficiaries receive the maximum possible from your estate.... Read More
Posted at 15:01 PM  |  PERMALINK
Topic: Trusts and Estates

When Does a Trust Avoid Probate in Florida: Almost Never

Saturday, August 15, 2009 by James W. Martin

People often create revocable living trusts in Florida to avoid probate. And some of those people actually transfer assets into the trust to fund it.  And it’s true that the trust’s assets are not assets of the probate estate when the person dies. But probate is still required for another reason: clearing possible claims of creditors.

You see, in Florida, revocable living trusts are liable for the claims of creditors of th... Read More

Posted at 11:10 AM  |  PERMALINK
Topic: Trusts and Estates

Life Insurance Trusts - Alive or Dead?

Wednesday, July 15, 2009 by James R. Modrall

Life is not certain and neither are ILITs. Great care should be taken in the administration of the trust, changes in policies, and the provisions of the trust relating to changing trustees. Banks and trust companies are now more willing to act as trustees, which provides some assurance that the formalities of administration and Crummey letters would be observed. Existing ILITs should be reviewed periodically by experienced attorneys, not just at the behest of an insurance advisor or agent.... Read More
Posted at 14:16 PM  |  PERMALINK
Topic: Trusts and Estates

Failure to Understand How Your Assets Will Pass On Your Death

Tuesday, May 12, 2009 by Joseph E. Deering

Most People think that their property will pass
by a will. 

This usually is wrong.  In most estates property passes by a variety
of methods:





1.     
Joint
Tenancy—A method of
holding property which automatically gives the property to the survivor
regardless of the... Read More

Posted at 14:16 PM  |  PERMALINK
Topic: Trusts and Estates

King Henry VIII and Queen Elizabeth Repealed

Wednesday, November 26, 2008 by James R. Modrall

The Rule Against Perpetuities has been abolished in Michigan with respect to personal property held in trust.  The legislature did not make a sweeping abolition of RAP regarding real estate.  Information about perpetual trusts in Michigan.... Read More
Posted at 10:13 AM  |  PERMALINK
Topic: Trusts and Estates

Charitable Remainder Trusts

Monday, July 28, 2008 by Tamara L. Harper

A Charitable Remainder Trust provides for a specified distribution, at least annually, to one or more beneficiaries, at least one of which is not a charity, for life or for a term of years, with an irrevocable remainder interest to be held for the benefit of, or paid over to, charity.... Read More
Posted at 14:33 PM  |  PERMALINK
Topic: Trusts and Estates

Urgent News Re: Charitable Trusts

Friday, July 18, 2008 by James R. Modrall

What is a CLAT and why is it important to create one now rather than later.

... Read More
Posted at 13:37 PM  |  PERMALINK
Topic: Trusts and Estates
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