A recent decision issued by the Supreme Court of Alabama highlights the importance, for both creators and beneficiaries of trusts, of understanding whether a trust is Revocable or Irrevocable, and the consequences that flow from that distinction.   

Revocable and Irrevocable Trusts

Any trust has three players: a Settlor, a Trustee, and a Beneficiary. » Read More

Outside the legal setting, “caveat” generally means a warning or caution. As addressed in our previous blog post, “It May Be Up To You To Prevent Exploitation,” it is also a simple and effective way to prevent a Will from being probated. » Read More

Let’s face it, forcing yourself to contemplate your own demise and make a Will is, to most of us, unsettling at best.  Add to that the need to plan your own funeral and it’s enough for many people to avoid all of it entirely.  » Read More

The care of an elderly parent can present an existential threat to family harmony and unity even in the closest of families. Even in large families where caregiving responsibilities can ostensibly be shared equitably, it is not uncommon for one or more children to shoulder much more of the burden than the others. » Read More

It’s a common scenario- a couple gets married, each having children from a prior relationship.  They each set up their Wills to provide for the surviving spouse and then for all their children, collectively, when they are both gone.  The understanding is that when one dies, the survivor will not modify or revoke the survivor’s Will in a way that diminishes the inheritance of the children of the spouse who dies first. » Read More

One of the most enduring myths about Wills is that if you leave someone $1 (or some other nominal amount) in your Will, that person cannot contest it. Implicit in this reasoning is that the Will also contains a so-called “no-contest” clause, sometimes known by its more sinister label, the “in terrorem” clause, which says that any provisions for someone who contests the Will are revoked. » Read More

Prior blog posts (here and here) have addressed the limits of a Will by identifying numerous assets that pass not by Will upon death, but by some other means.  For example, life insurance, retirement benefits, and annuities pass not according to the provisions of a Will, but based on the named beneficiaries in the applicable beneficiary designation.  » Read More

In a previous blog post, we discussed the fact that New Jersey law has trended away from a strict interpretation of what it takes to have a valid Will.  For example, a Will is valid in New Jersey if the signature and material portions of the document are in the decedent’s handwriting, a so-called “Holographic Will.”    » Read More

The tragic deaths of celebrities Anthony Bourdain and Kate Spade brought attention to the critical importance of recognizing and treating depression.  In the case of Kate Spade, it also highlights the beneficiary rights of separated spouses.  Ms. Spade’s husband revealed that he and his wife had been separated for almost a year prior to her death.  » Read More

We all know what certain words mean, particularly in the context of family.  We know who our spouse is, who our children are, and who our grandchildren are.  But sometimes it’s not that simple, and it becomes necessary to go beyond written words to determine someone’s true intention. » Read More