When choosing guardians for your children, your instinct may lead you to select your parents or a close friend. However, the process requires more thought and planning than simply naming someone you trust. While the person you choose may seem perfect, it’s important to consider key factors so your children are cared for as you … Read more
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.
Estate planning isn’t just about securing your legacy—it’s about protecting your assets and loved ones when disaster strikes. Updating an outdated Estate Plan or creating a new one provides a set of instructions for your family regarding what you want to happen during your life if you lose the ability to communicate that and at death. It provides comfort and a sense of control. This article will serve as a guide to getting more out of your Estate Plan during a disaster.
Doris Duke was born into immense wealth, thanks to her family’s success in the tobacco industry. Her grandfather, George Washington Duke, and father, James Buchanan Duke, built the American Tobacco Company, a business so dominant that it was one of the original 12 companies in the Dow Jones Industrial Average when it launched in 1896. … Read more
Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, beneficiaries need to bring a legal contest to enforce the terms of the decedent’s plan and force fiduciaries to act in accordance with their duties. This article examines a recent court case that could have ended in a failure of the decedent’s Estate Plan.
As year-end approaches, many individuals look for ways to lower their income tax burden. Charitable contributions allow individuals to offset a portion of their income, but not all charitable contributions are created equally, and each has certain requirements to obtain the charitable deduction. Certain charitable-giving vehicles allow a donor to get more bang for their buck
Any time a new administration takes the Oval Office, clients call upon Estate Planning attorneys to provide assurances and guidance regarding what’s going to happen. As one administration leaves and another enters, many clients become nervous about the potential changes the incoming administration wants to make. With this new administration, the more things change, the more they stay the same.
On your wedding day, everything feels like a fairytale. You’ve planned for the big day and imagined the life you’ll build together, perhaps even envisioning growing old side by side and celebrating a golden 50th anniversary surrounded by family. But for many, that dream ends in divorce. If you find yourself among the majority, divorce … Read more
As we reflect on a year gone by, let’s step into the shoes of Ebenezer Scrooge and reflect on what the ghosts of estate planning might reveal. With their guidance, you can ensure that your legacy brings joy and security rather than confusion or regret. The Ghost of Estate Planning Past arrives with a compelling … Read more
One day, we all face the inevitable call: a parent or loved one has fallen seriously ill. Amid the initial wave of concern and sadness, the question inevitably arises, “What do I do now?” If your parents have prepared an effective estate plan, the path forward can be significantly more straightforward and less overwhelming. A … Read more