When the trustee isn’t so trustworthy, and the beneficiaries can’t get along, there’s a superhero who is increasingly being called on to save the day—the trust protector. Trustees and trust protectors are designed to be symbiotic characters in the interactions of a trust’s life, but it hasn’t always worked out that way in the courts. In two state lawsuits—In re Eleanor Pierce (Marshall) Stevens Living Trust and Minassian v. Rachins—it was the trust protector’s rights that were upheld.
The message: State courts are willing to recognize the role and authority of trust protectors, even when other parties disagree.
While approximately 10,000 cases are appealed to the U.S. Supreme Court each year, only 75 to 80 make it to oral argument. Of those cases, only a handful grab the media’s attention. Below is a summary of three landmark decisions handed down in 2015 that could affect how you are taxed, pay for healthcare, and plan your estate.Continue reading
You may be surprised to learn that not only has asset protection planning been around for a long time, but you have already engaged in it at some point during your life. In fact, you probably have one or more types of traditional asset protection planning in place at this very moment. The problem is in many cases the type of planning you have right now won’t be enough to protect you and your family.Continue reading
Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Estate Planning Myth #1 – You Don’t Need an Estate Plan Because Your Spouse Will Inherit EverythingContinue reading
While there are many factors to consider when choosing the place where you will retire, the ones that will impact your wallet may be the most important. Why? Because having a low crime rate and beautiful weather will be irrelevant if high costs deplete your retirement nest egg faster than anticipated.Continue reading