Estate Planning/Probate Newsletter

Trust Elements - Trustee

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary. This More...

Trust Elements - Trust Property - I

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.More...

Spousal Election

One of the main purposes for making and leaving a will is to guide the administration of the estate of the testator--the person who made the will. A will should be written in language that is clear and indisputable. Alas, the language in a will may be unclear or vague. This article discusses the protection of the testator's surviving spouse from complete disinheritance.More...

Inheritance Without Planning Means No Provisions Beyond the Default Plan

When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under with his or her net estate is disposed. When a person dies intestate, there is no adding of provisions beyond the default plan. The default plan is only the default plan and nothing more. This article discusses the disadvantages of descent and distribution related to the inability to add provisions beyond the default plan.More...

What is a Will?

A simple definition of a will can be found in a paralegal textbook, Edward A. Nolfi's Basic Wills, Trusts, and Estates (Glencoe/McGraw-Hill 1995). Mr. Nolfi writes that: "A will is a formal letter to the probate court judge declaring what the maker wants after death." Let's look at each part of this intriguing definition.More...