Estate Planning Newsletters

Trust Modification and Termination

A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor.

Making Final Arrangements -- Ceremonies

When formulating your estate plan, you should contemplate body disposal and ceremonies. Writing out a statement of your preferences will likely save money and save your loved ones from additional heartache. Typically, at least one ceremony occurs when a person dies. Sometimes several ceremonies are held, either before or after burial or cremation. Most loved ones are likely to be comforted by attending a ceremony that reflects the wishes and personality of the deceased person.

Probate --Beginning the Process

When a person dies, the first thing that must be done concerning distribution of his property is to determine whether he left a will. In most cases, the spouse or children will know or have an idea that there was or was not a will. If not, a search of the deceased's papers and safe-deposit box may offer some leads. If the deceased had a lawyer or saw one before his death, the lawyer should be asked if he has any knowledge of a will.

Voting Trusts

The special purpose served with a voting trust is to transfer the right to vote shares of stock without losing control of the stock itself or any other rights associated with it, such as appreciation, dividends, or other distributions. The voting trust is most often used with closely held companies where it is deemed advisable to allow one or more specific individuals to vote the stock. It is the trustee of the voting trust who is entitled to vote the stock held in the trust, and thus the individuals who are to have the vote will be appointed as the trustees of the voting trust.

Wills - The Writing Requirement

A written will is obviously required to be in writing. What the writing requirement really means is that the medium a will is written in must be sufficiently permanent. The medium must be permanent enough to provide a reliable record of the testator's testamentary desires for the probate court.