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Are Irrevocable Trusts Really Irrevocable – Part II

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Are Irrevocable Trusts Really Irrevocable

For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more flexibility and opportunity than ever. Read on to learn more.

Inheritance Planning: Leave Nothing to Chance

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Estate Planning Lawyer

Inheritance planning involves more than distributing assets. It’s about making sure your wishes are followed, your loved ones are cared for, and conflicts are minimized. Without careful planning, your estate could face delays or unintended consequences. Addressing details like naming contingency beneficiaries, selecting the right trustee or executor, and including supplemental documents helps create a … Read more

Are Irrevocable Trusts Really Irrevocable – Part I

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Are Irrevocable Trusts Really Irrevocable Part I

For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more flexibility and opportunity than ever. Read on to learn more.

Want Privacy? Use a Trust

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Privacy

Do you really want your nosy neighbor knowing your business? Or Aunt Maggie discovering that your favorite uncle got an inheritance—but she didn’t? If you rely solely on a will, your estate plan becomes a matter of public record. That means anyone—from relatives to telemarketers—can walk into the courthouse and see exactly what you left … Read more

Elder Law Insight: This Pension for Veterans Is Often Overlooked

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Elder Law Insight This Veterans Pension Is Often Overlooked

When considering veterans’ benefits, many people think of the military retirement pension earned through years of service. However, there’s another valuable benefit that often goes unnoticed: the Veterans Pension. This need-based program provides financial assistance to wartime veterans who meet specific criteria, offering support to those who are facing financial challenges in their later years. … Read more

Estate Planning and Baseball

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Estate Planning And Baseball

Every state that recognizes trusts as legal entities imposes fiduciary duties upon the Trustee of such trusts. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee failed to fulfill their duties as expressed in the trust instrument and under local law. This article examines a case ripped from the headlines that demonstrates the importance of choosing the right individuals to serve as fiduciaries.

Special Needs Planning Can Preserve Essential Benefits

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Plan College Savings Plan

Providing for a loved one with a disability requires careful planning if they rely on need-based government benefits like Medicaid and/or Supplemental Security Income (SSI). While leaving a direct inheritance might seem like the right thing to do, it can inadvertently put their benefits at risk. A well-structured special needs trust offers a solution, allowing … Read more