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Inheritance in Unusual Circumstances

Inheritance in Unusual Circumstances

State statutes of descent and distribution are usually supplemented by other statutes or court rulings governing inheritance in unusual circumstances. This...

Trust Elements - Trust Property - I

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...

Co-Ownership Myths - II

Co-Ownership Myths - II

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy...

Special Conditions in a Will

As a general rule, a devise, a bequest, a legacy, or a trust in a will may benefit any person or legal entity. One major limitation is that is that a devise, a bequest, a legacy, or a trust in a will may not benefit a person or...

Revocable Living Trust

In many jurisdictions, trusts cannot be revoked unless the trustor expressly retains the right to revoke. Revocable living trusts allow a trustor to manage his assets, to plan for his incapacity, and to avoid probate. The beneficiary of the...