The deceased's objectives inform the trustee's management of publicity - witness this hypothetical estate plan for Kayne West.
A trustee who is a bad fit for your trust and family can cost dearly in money, delays and family harmony. Here's my 7-point article.
Learn the important but odd trustee phrase "per stirpes" from this report of a court's resolution of a real-life family estate dispute.
Co-trustees' multi-state dispute is a warning to get clear & prepared on how a trust with multiple trustees will really work - or not work!
Building on this solid trust primer, consider whether a family member or a non-family member is a better fit as your trustee.
Good advice for you to coordinate your trustee and advisors in advance to efficiently transfer your estate to your loved ones later.
Study shows estate preparation lessens economic inequality: those with less wealth are vulnerable without basic estate planning.
Court short-circuits its analysis of whether the successor trustee may be liable for not chasing after the trust-violating prior trustee.
Entrepreneur spot-on: How you want your trust administered impacts your legacy using both your financial and non-financial wealth.
Chadwick Boseman's estate proves (again) how important it is to "get on up" with preparedness, especially your trustee and power holders.
Contrary to current wisdom, your trust & will have a lot to say to the world about you even before they go into effect. (free download)
Your unprepared successor trustee can encounter a lot of problems with serious implications. Details in my article.
The lessons from the estate problems of celebrities include reasonably predicting the consequences of choices.
Add the professional option to otherwise spot-on advocacy for durable power of attorney over springing ones.
Popularity of DIY end-of-life planner Lantern, sheds light on need, but isn't as bright as hiring your own professional.
Article outlines well a trustee's world in legal terms AND the full universe includes taking care of you through any disability.
Whitney Houston's executor does right by her by protecting her hologram from unauthorized use, saving all the love for her.
Good advice to the trustee: get necessary legal counsel and avoid getting drawn into the emotional whirlwind of family dynamics.
Criminalizing inheritance crimes doesn't help - undue influence is better avoided by naming and preparing an independent trustee.
Onward with trust & estate and end of life preparedness! Death-Over-Dinner & GYST collaborate on resource & community beta website
Excellent clean up of end-of-life trust & estate misconceptions applies not just to fed workers - podcast with written outline & checklist.
Luke Perry a role model in planning his estate and trust, and especially the disposition of his body in a green burial.
Talking with your family is rightly one of the top 10 ways to enhance your trust and estate preparedness, especially during the pandemic.
Solid advice for preparing your digital life for your death includes using Facebook Legacy Contact & Google Inactive Account Manager.
Columnist seeks preparedness for his own non-imminent death - could be continuing the positive preparedness trend.
Grandchild of Aldi stores' founder sues parent for allegedly stealing from the family trust - another reason for hiring a professional?
Advice well-taken is to inform your beneficiaries and prepare them to maximize empowerment and minimize bad-feelings - and worse!
Study of estate plans of parents with a disabled child confirms: What are "fair" trust distributions depends on point of view.
Your financial Power of Attorney should be ready to “go to work” the moment you need them. Here are your key options.
Whether your family's inheritance is a blessing depends on the work-ethic you've instilled, a wise estate plan - & a bit of luck.
The case of Sammy Davis, Jr. has important lessons on the impact of debt on end of life, estate and legacy with survivors.
Advice from the front line to avoid naming the family member to serve as trustee applies especially where the family is not well-prepared.
Trustees of Special Needs Trusts need to heed the benefits' rules of the state where their beneficiary resides, not just of their state.
If you're reading this, you likely have "digital assets" and should make sure they're covered in your estate plan.
In deciding to share trust information with a beneficiary, a trustee should balance transparency with prudence.
Advance discussions would have avoided trusted friend, fellow author & trustee Lillian Hellman's betrayal of Dorothy Parker's wishes.
Lawyers' article details the reasons a judge can fire an executor, but you may want to set up additional boundaries and controls.
Professor cleverly undercuts court: property is in trust simply by the owner's declaring so. But it's also wise to paper the decision!
Article identifies real trust difficulties for those who are financially challenged - now if it would only recognize the illness and disability.
Follow Jackie O.'s lead: use charitable trusts to benefit your family & causes - & pick an impartial trustee to manage between them.
Talking with & Investing in your family is the secret to keeping them & your trust together over the years confirms researcher Dennis Jaffe.
Another reason those with an IRA and a trust should consult with their trust & estate attorney: unintended beneficiaries from the SECURE Act.
Growth in death preparedness reflects my belief that people are generally happier when they address the inevitable.
Trustees SHOULD rarely act without the knowledge or approval of the beneficiaries even when they legally can decide on their own.
Sister moves in as trustee for troubled Brittany Spears. We hope she's successful in dealing with the difficult family and technical issues.
Attorney explodes 4 crippling myths of trusts, including that only the rich need them and that having a trust means losing control.
Professor's theory of business trusts forces the trustee to "relentlessly" maximize wealth over the welfare of the settlor and beneficiary.
It's hard for a trustee to dodge a claim for breach of trust claim: liability can follow the person and the job title.
Funding your trust is one task to complete so the trust and trustee can do their job well in taking care of you when the time comes
Minnesota Attorney General seeks to remove trustees who inherited their positions for improprieties, including self-dealing.
The pro's and con's of transferring your house through a trust vs. through a life estate from two real estate professionals.
Professor's law review article delves into the morality and jurisprudence of trusts, trustees and fiduciary law. (free with registration)
Attorney details why you shouldn't try to stash cash in your house as an estate plan - also your trustee can protect it better in an account.
Preparing the trustee for trust administration tasks - and liabilities - is pretty much the same in Canada as it is in the U.S.
What you can learn from Elvis' trust and estate mistakes - on what to do and what NOT to do - without getting all shook up. (podcast)
Free recording of presentation to professional organizations from two CPA's on estate planning in the current Covid envirorment.
Learn how a Crummey trust may be a solid vehicle to deliver assets to your beneficiaries for education or for support.
Eldest daughters sue to enforce their father Bronco owner's wishes against the team management trustees.
Do a favor for you and your family by getting prepared with your successor trustee. More details in my short article.
Kenny Rogers' folding 'em shows value of adding a prenup for 2nd - and esp. 3rd and more marriages - to your other trust & estate docs.
Special trust & trustee preparedness to better care for those with Alzheimer's, ADHD, Parkinson's, MS, epilepsy and other brain diseases
Advisor opinion: Not naming the settlor as a beneficiary creates more a secure Hybrid Domestic Asset Protection Trust.
Court rules the trustee owed her son fiduciary duties including those not expressly identified in the trust document = messy family affair.
A guide to basic estate documents - and their staffing: executor of your Will, successor trustee of your trust and holder of your power of attorney
Court rules in favor of Soul Godfather James Brown's wife for a share of his estate, voiding her prior marriage to a bigamist.
Options to consider because of SECURE ACT changes to your IRA planning include a life insurance trust.
Scholarly paper traces the growing use of private trusts to hold businesses in various places - including Singapore!
Court allows a claim to remove a trustee based on his alleged hostility that causes friction in operating the trust.
Should you have your trustee split your assets evenly between your children? Some ethical & practical issues on both sides.
Billionaire Scaif's daughter suing PNC and other trustees to honor her request for donating her share to charity.
An attorney explains the basic trust documents and team: trustee, executor and holder of a power of attorney.
Things to consider on a trustee's Duty of Impartiality as to different remainder interests when draining a marital trust.
National survey confirms half of us haven't created our own estate plans. Free registration and white paper.
Characteristics to look for in choosing a successor trustee include integrity, good judgment, objectivity and experience.
Arnold Palmer's powerful drive to invest in wine gives new meaning to a trust estate's focus on liquid assets. (podcast)
Wealth manager's list of 5 mistakes to avoid in choosing your trustees, including misunderstanding their responsibilities.
Texas court says a trust protector does not owe a duty to the settlor or the trustee. That's not the Illinois rule. Elsewhere?
Court finds much of trustee's work unnecessary so denies 90% of his fee request. (article with copy of court decision).
Serving as your family's trustee? Get your free copy of the Consumer Financial Protection Board's guide to how to serve as trustee.
Half brother sues XXXTentacion's mother/trustee for $11M, charging theft from the trust; her attorney says she's already proven not guilty.
This advisor explains why you should use a trust or a TODI to transfer your house on your death - not just deed it over to them.
Four tips for a smooth transfer of wealth including talking with your trustee about your goals and the tasks necessary to achieve them.
Under the threat of Covid-19 many are building shelters staffed with a trustee to care for their pets if they can't.
Catch this webinar on trustees for special needs trusts through the 2020 Independent Trustee Alliance Conference on the 16th.
Lessons from Debbie Reynolds and Carrie Fisher: preparing your trustee to efficiently handle your collectibles.
Appointing a professional as successor trustee is part of the retirement planning advice for widows and widowers
No surprise: considerations for the trustee in administering your offshore trust track those for onshore trusts.
What's an executor to do? Daughter tells judge that the dog ate her father's original Will, contest ensues on which is the official Will.
Funding your trust now can save time, money and heartache later for you, your beneficiaries and your trustee
More for celebrities and their trustees to consider: which post-death acting roles they would die to take. (free download)
Five reasons to select a professional trustee instead of a family member, includes peace of mind that your wishes will be followed.
How a trustee can use an "Opportunity Grant" to prevent the trust beneficiary from feeling mis-trusted. (text & podcast)
Trustee is personally liable for $6MM for allowing the trust to enter a cannabis dispensary lease despite notices of zoning violations.
Difficulties for your trustee can include administering for a challenging beneficiary on top of legal & financial technicalities.
Estate lessons from the case of singer-songwriter Amy Winehouse, dead at 27: millennials need trustees, too (podcast)
Advice on how much searching your trustee or executor has to do to find missing beneficiaries and heirs - and how quickly.
Court affirms claims against the family member trustee arising out of his hostility to his beneficiary sister and removes him as trustee.
Connecticut now recognizes Pet Trusts, but keeps the leash on how much money can be set aside to take care of your 4-legged friend.
I'm proud to be hosting a webinar on Trustee Compensation at the 2020 Independent Trustee Alliance Conference on the 25th.
There may still be a remedy against the executor and others for alleged forgery of the Will of Tiger King Star Carole Baskin’s missing husband.
Test drive your trustee by having him serve as co-trustee and satisfy yourself that he's a good, steady driver, among a lot of other advice
Should you have a Will or a Trust - or both?! Here are some new perspectives given the pandemic on this continuing question.
Here is an outline of a few of the pitfalls of drafting estate documents yourself without a professional: don't do your will or trust yourself!
Here's some of what's involved in serving in the roles of your successor trustee, the executor of your will, and the holder of your power of attorney.
The saga of art collector Dr. Barnes and lessons on making sure your trustee administers the trust how you want. (podcast)
Special a/k/a supplemental needs trusts, including what things trustees of those trusts can pay for - and what they cannot.
Trust provisions to consider over various distributions, including income and principal and limitations on supplemental needs.
Illinois judge rules in favor of siblings suing their brother, serving as trustee and power of attorney, for taking father's money.
Family meetings are helpful to clarify roles and procedures for whomever is serving you and your beneficiaries as trustee.
While sheltering confirm your trustee will follow your wishes, plus 5 other estate checklist items to address during the pandemic.
How to be a trustee and handle the complex tasks & responsibilities: June 4 webcast with checklist handouts.
Several key trust provisions, including distributions of both income and principal - and how your trustee could administer them.
Power of Attorney explained - the person who does some or all of your tasks when you can't do them yourself.
What you and your trustee can do in advance - more lessons from Prince's failure to get prepared. (Podcast & text)
A transparent, independent professional trustee is key to successful family trusts, says expert Potts.
Doctrine of Merger prevents same person from being Settlor, Trustee AND Beneficiary. A third party trustee is part of the solution
Trustees and settlor sue trust & estate attorneys over inclusion of business as trust asset defeating purpose of trust to benefit son.
Select a professional executor and trustee for their expertise, and help familiarize them with your situation and preferences.
Long tall legacy: thoughts about Little Richard's estate and looking forward to what his son and charities will inherit and do.
The Association for Conflict Resolution devotes an entire issue to senior care issues, covering trusts & trustees and then some!
Got docs? Great! Here's how to better prepare your family and trustee by FUNDING your trust with your house, car and accounts.
Sibling trustees and their attorneys sued by other family members; attorneys already suspended for conflict of interest.
How to know when the trustee should be paying out the trust proceeds - and what to do if the trustee doesn't.
Trustee basics include some ideas on how to think about the selection of your trustee and other fiduciaries. (podcast & text)
Putting your life insurance inside a trust may make sense if you want to regulate the distribution of the death benefit over time.
A judge has found there's a strong case of conflict of interest against sibs' trustee brother in administering family trust.
A quick guide to estate planning during the pandemic: your documents and your power of attorney, executor and trustee.
"Why professionals do and do not recommend independent trustees." John A. Warnick webinar hosted by Independent Trustee Alliance.
How a trustee helps your surviving spouse and children through your sickness, disability and life's other complications.
The state you chose for your trust and trustee can make a difference esp. as to taxes under the Supreme Court's decision in Kaestner.
A trust allowing trustee discretion may solve some of the problems coming from the new IRA Secure rules -- and may create others.
Court rules beneficiary's efforts against the trustee were forbidden by the trust and so prevent him from receiving any trust money.
Trust vs. Will: Weigh the merits of a will with an executor supported by a court or the privacy and flexibility of a trust with an aligned trustee.
The trustee of public lands should administer to conserve and maintain just like the trustee of a perpetual charitable trust.
Your Trust Protector helps with asset protection - another reason to have one, besides being a check on your trustee.
Everything you wanted to know about dynasty trusts, including the unique role for the independent trustee for these long-term trusts.
Annual conference reschedules into a webinar series supporting the business of serving as an independent non-corporate trustee.
Challenges in having family members who are not US citizens serve as your trustee, executor or holder of your power of attorney.
Trust lessons from Steve Jobs' estate: why handling digital assets is a lot more than knowing user names and passwords.
Putting a trust and trustee in place can be a good solution when there are assets in more than one state, avoiding multiple court filings.
What a trustee may have to do with a trust's income when the trust temporarily lacks an income beneficiary. (.pdf)
A cautionary tale on the cost of excluding the family in creating an estate plan and selecting the family trustee.
Eight ways to move forward with putting your trust and will in place despite sheltering at home - not to mention preparing your trustee.
My 10-steps for prudently preparing for possible disability and death - adaptable to the current pandemic. Take one step this weekend!
The role of the trust protector can include various special tasks, including monitoring, coordinating and if need be replacing the trustee.
Outline of grantor trusts, including the alphabet soup of GRAT, QPRT, and IDGT. No surprise: they all need expert trustees.
Making distributions to beneficiaries during a recession: underlying approach and key factors a thoughtful trustee should consider.
Local attorneys recommend coronavirus estate planning review, supporting this essential service while clients shelter at home.
Advice on revisiting your necessary documents during the pandemic: a few more steps toward trustee and family preparedness
Prepare your trustee to hit the ground running: scan your essential documents while you shelter at home with your phone or scanner.
A trustee may hire someone else to take care of the trust's ministerial tasks, but not the trustee's discretionary tasks.
Helping you to execute estate docs during the pandemic, Illinois joins other states allowing for virtual witnessing and notarization.
Covid-19 pandemic is also leading to an increase in estate and trust preparedness. You may have time to get your stuff together!
Children of founder of Benihana Restaurants seek to remove dad's third wife as trustee, alleging millions misspent and mismanaged.
Attorney trustee dispels 6 myths about choosing your trustee, including naming a family member or bank (white paper).
The dark side of the Uniform Trust Code and the importance of keeping beneficiaries informed. (post and monograph)
How to make sure your pets are taken care of after you die: advice from the estate planner include a trustee for your pet trust
How a trustee helps your surviving spouse and children through your disability and life's complications by administering your plan.
What a mess in old Jersey! A money-savvy feudal lord battles off-shore trustee and daughter in a saga worthy of a TV mini-series.
To avoid a negative of the new SECURE Act, an advisor may have you hire a trustee for the shelter of an insurance or charitable trust.
Connecticut joins Illinois and over 30 other states in adopting the Uniform Trust Code, which among other things extends trustee discretion.
Four things your trustee can do for you with your trust that the executor of your will can't, especially preparedness for incapacity
Make sure your trustee gets passwords to your digital world: email, social media, photo storage, health & financial portals, etc!
How 20 famous folk handled their family trust and trustee - half leaving lots to charity plus giving their children a firm foundation.
Your trustee is the key to making sure your trust accomplishes your goals for yourself, your family and your estate.
Many practical benefits flow from the trustee producing an annual accounting, including enhancing family alignment and reducing risk
Use a co-trustee to provide your children after your death with an income stream protected from creditors.
The new Illinois Trust Code, according to one trustee: my upcoming presentation for the North Suburban Bar Association.
The flaw in Warren Buffett’s estate plan: not giving the trustee the option to sell stock in his company, if that someday makes sense.
Says one advisor: 529 Plan held in trust by independent trustee need not be disclosed on financial aid forms.
Proposed Federal FINRA rules forbid advisers serving as trustees from being named beneficiary and having other conflicts of interest.
Faced with the unknown future use a sprinkle trust to give your trustee discretion to make sure each child gets what they need.
To make sure your trustee handles your digital assets the way you want, you have to prepare & share with your trustee.
Update and legal insights from the disinheritance (wife & 2 kids!) and other trust & legal issues around Ric Ocasek's estate. (video)
Before naming the family member as successor trustee, first consider the con's as well as the pro's, says trust & estate lawyers.
An outline of possible considerations for connecting your trust to a different state than the one you live in, including tax impact.
The second best time is now: overview and next steps for planning your trust and trustee to care for you and your family.
Short scenario confirms fundamental trust truth: which trustee is best depends on what you want your trust to do.
Robin Williams' family may prove a fight can happen even with a good trustee & estate plan - and that doesn't mean we shouldn't plan.
One legal advisor claims there are two good reasons for coordinating trust and trustee with your ex. VIDEO
Professor's study proves that the selection of the right executor is the key to avoiding family conflict over a will.
Fee of lay executor tangled in dispute over whether charities or same-sex romantic partner receives in will contest.
Good Trust advice in love and war from Game of Thrones: name a successor to your successor trustee. (audio and written)
How family meetings serve you and your family and also help your trustee to be more efficient and effective on your behalf.
Know the difference: legal competency vs. medical capacity, a challenge in trust administration as well as patient decision-making.
A global issue: trustees need to handle a lot more than just financials, esp. for Special Needs beneficiaries.
Trustee with a twist: consider setting up a trust to support your parents - while setting good boundaries to keep yourself afloat.
Singer James Taylor volunteers to make good and reimburse money stolen by his trustee brother from the trusts of others.
Avoid estate frauds & senior scams: get your trustee, power of attorney and family together in advance - and prepare.
Words of desire vs. words of command can make all the difference in how a trustee administers. (video and text)
Mother as trustee stole from her daughter's special needs trust to buy a Mercedes, an $18,000+ vacation, and other goodies.
Things to consider in choosing a trustee: being good with money, being honest, organized and diplomatic.
Picasso didn't vision a trustee so he drew a family mess and taxes. Design better for your family's harmony and asset preservation.
Share your trust document with your successor trustees and answer their questions about how to best serve you and your beneficiaries.
Trust documents are rule books for trustees and families to govern assets - insights from Heckerling Conference, 2020.
Don't wait until it's too late! Make sure your trust allows the replacement of a trustee who's no longer a fit.
List of reasons to have a trust - and a trustee! - center on taking care of you and your family now and later when you can't.
Though his trust & trustee aren't published, David Bowie's advance planning is a model for family care & stewarding assets.
A string of posts on unprepared spouses yields hard, practical lessons, including the value of an independent trustee.
A checklist under the new Illinois Trust Code from yours truly published in the Newsletter of the State Bar's Trust & Estate Section.
Here's my article published by the Illinois Bar Journal with practical pointers on the new Illinois Trust Code.
Quick-read article covers trust and trustee basics with four quick questions to help you connect to some core trust benefits.