Based on Florida’s statutory scheme, it would seem that a Florida court, given the same underlying facts, would reach the same result as the Massachusetts court in Marsman. If a life beneficiary-on the verge of being destitute-requested a distribution from a trust with a clause that directed the trustee to…
What happens if the life beneficiary contacts the trustee and demands that the trustee invade the trust corpus and distribute funds for the life beneficiary’s maintenance and support, but the remainder beneficiaries object? Aside from being bound to “administer the trust in good faith” and “act impartially in administering the…
When creating a trust as part of one’s estate plan, it is not uncommon for the settlor to include provisions designed to provide support for a spouse or other loved one for the remainder of his or her life, with the remaining trust assets going to the settlor’s children, or…
The Internet has substantially altered the way people interact and express themselves, and social networking accounts, e-mail accounts, and other digital assets have become increasingly valuable in recent years. Because the value of digital assets has only been recognized in the last decade, people often do not take them into…
“Nothing can be said to be certain, except death and taxes.” – Benjamin Franklin This quote by Benjamin Franklin is probably the most succinct and accurate statement as to why estate planning is best carried out with the help of a knowledgeable and experienced attorney. Over the past few years,…
Charitable giving is an American tradition, and Americans give to charitable organizations at high levels. Gifts in the form of donations of cash remain the favorite vehicle for positively impacting charities of personal significance. Increasingly, however, individuals are seeking tax advantageous methods of utilizing asset-rich portfolios in order to achieve…
SEC football is known for its national championships, sensational athletes, and jaw-dropping hits. With this in mind, it is no surprise that the children of Jim Carlen, former coach of the South Carolina Gamecocks, are fighting back after being blindsided by the probate of a will that left them nothing.…
The execution of one’s final will and testament is something to be taken very seriously. The permanent and inevitable nature of death means that attention to detail is paramount to ensuring your final wishes are fully set forth, and that your loved ones have a clear roadmap to carrying out…
For many years, litigating parties have engaged in alternative dispute resolution for the purpose of attempting to resolve their disputes without judicial intervention. Mediation, one of the more common forms of alternative dispute resolution, is a process where a neutral mediator “acts to encourage and facilitate the resolution of a…
For many, the purpose of estate planning is to dispose of one’s property upon death in a manner that ensures that one’s loved ones will be taken care of. While some accomplish this by devising their property in a will to their intended beneficiaries, others take advantage of what are…