Monthly Archives: September 2023
Don’t Forget These Things If You Are A Trustee
If you are creating an estate plan, there is no doubt that a vital part of that plan is the creation of trusts. There are no shortages of the kinds of trusts that you can use and there is surely a trust that can accomplish whatever your estate planning goals may be. But there’s… Read More »
Who Pays Your Creditors After You Pass Away?
If you are doing estate planning, you probably intend that your beneficiaries will get whatever you designate that they get in your will, trust or other estate document. But what about your creditors? Do your beneficiaries or surviving family have to pay your creditors? No Automatic Debt Unless they are on the debt—that is,… Read More »
Aretha Franklin’s Family Goes To Court Over Multiple Wills
Although rock and blues legend Aretha Franklin died in 2018, the debate over her estate is apparently just beginning. Franklin’s relatives are headed to court, to debate about what she wanted to happen with her sizable estate. No Formal Will Like many people, Franklin died without a will. By some accounts, she was hesitant… Read More »
Decanting Lets You Modify Irrevocable Trusts
There are a number of benefits to having an irrevocable trust. Because you cannot just use the assets of an irrevocable trust, or turn an irrevocable trust into a revocable one, neither can creditors, making it a very good creditor protection idea. There’s a Tradeoff But with those benefits of an irrevocable trust comes… Read More »