Elvis Presley, the King of Rock and Roll, died in 1977. Like most celebrities of his stature, he left behind a complicated legacy—and a considerable estate. Elvis’s estate, including Graceland, ended up in the hands of his only child, Lisa Marie Presley, who passed away in January at fifty-four years old. It...
Category: Trusts
Nonjudicial Settlement Agreements: The Good, the Bad, and the Ugly
Some trusts are irrevocable as soon as they are created, which means that, in general, the trustmaker (the person who created and funded the trust) cannot terminate or modify it and take back the money or property that it holds. You may wonder why anyone would want an irrevocable trust, but irrevocable...
Disability Panels to Take Back Control
When you create an estate plan, it is an admission of your mortality. But even if you accept that you are not going to live forever, you may be slower to face the possibility that you could become incapacitated before you die.
Although it can be an uncomfortable topic,...
Have You Chosen the Right Trustee?
Whether you are reviewing your existing trust or creating a new trust, you should understand the important role that a trustee plays not only in handling trust matters but also in providing for and protecting your loved ones.
What is a trust?
A trust is an...
What You Need to Know About Beneficiary-Controlled Trust
Would you like to provide your children or loved ones with an inheritance but protect them from the risks that may accompany a large windfall? If so, you can create a beneficiary-controlled trust in which the person you name as the trust’s primary beneficiary has rights, benefits, and control over the property...
Important Milestones You Can Incorporate in Your Estate Plan
Life is full of contingencies. While some outcomes are relatively certain, other events are more difficult to predict. This uncertainty can create estate planning challenges. Because life changes quickly and sometimes unexpectedly, your estate plan needs to be flexible.
You can make changes to your estate plan when you...
Winter Planning for a Great Spring
Retirement Planning Update
Although we are still in the midst of winter, spring is on its way. It is important to remember upcoming April deadlines for retirement contributions and required minimum distributions (RMDs), but there have also been some recent developments that may impact your retirement planning.
Red Flags When Hiring a Professional To Be Your Trustee
When you form a trust as part of your estate plan, one of the most important decisions you will make is who will oversee the trust’s management when you are no longer able to manage it (also known as your successor trustee). Because a trustee’s work may be time-consuming, complicated, and risk...
Important Issues to Address Before You Leave on Vacation
Getting ready to embark on your next great adventure? Before you zip up the last suitcase, here are five issues you need to address to protect yourself and your loved ones.
Do you have a foundational estate plan? Has it been reviewed?
An estate plan is...
The Death of Anne Heche: Lessons for Estate Planning
Anne Heche’s recent accidental death was a shocking reminder of how the everyday can quickly turn into the tragic. While driving through the Mar Vista neighborhood of Los Angeles on August 5, 2022, Heche was involved in a car crash and succumbed to her injuries a week later. The official cause of...