Trust administration is more complicated than many people may realize. So, when deciding whom to name as your administrator, you may want to first explore the traits that the individual should have before making your decision. This is not the time to choose just to be fair or to keep the peace in the family. [...]
Tag Archives: trust
November 3, 2010
What is the Difference Between a Last Will and Testament and a Revocable Living Trust?
There are similarities between a Last Will and Testament and a Revocable Living Trust: 1. both pass along specific assets, 2. both name guardians, 3. both are written,signed and witnessed; 4. both can be amended and revoked. The differences between both are what sets them apart: A Last Will and Testament, appoints an Executor who [...]
August 16, 2010
Not every asset is handled in the same way when transferring it (also known as “funding the trust”) into the Revocable Living Trust. As a matter of fact, there are certain types of assets that if transferred into the Revocable Living Trust will cause significant tax consequences. A common manner in naming a Revocable Living [...]
October 9, 2009
Suits Over Yankee Pitcher’s Fatal Plane Crash Settle for $2M, Claims of $60M Dropped
Here is a great REAL LIFE example from the New Jersey Law Journal on how important it is to Estate Plan for your estate. Please read it even if you are not a Yankee fan!!! Insurers and individuals who suffered losses in New York Yankees pitcher Cory Lidle’s fatal plane crash in Manhattan in 2006 [...]
February 2, 2009
Putting off Your Estate Plan is a Grave Mistake
At a time when the economy is slow and money is tight, many people are looking to save money by cutting back on “unessential” expenses—including estate planning. Although this instinct is understandable, the trend is a disturbing one. Our firm understands the need to dig in during tough times, but what you may not realize [...]