Many do not realize the signature card on your bank account (as to the type of account established) determines how the funds in the account pass at the owner’s death. Thus, even if a person has a Will, the signature card could establish that the...
Revocable Living Trusts (RLTs) are commonly used for a variety of reasons ranging from avoiding probate to avoiding guardianship by retitling assets into the name of the trust if you should become disabled. However, not all assets can or should be transferred or even mentioned...
It is not unusual for U.S. citizens to own real estate in their ancestral “motherland” or to live abroad and own real estate in another country. Although Wills created in one state are generally recognized if you move to another state (under the U.S. Constitution’s...
There are numerous ways real estate can be transferred to avoid probate (which is also a way to avoid a successful Medicaid estate recovery claim in Texas), but which way is best will depend on the circumstances. The most common choices are either a transfer...
Although conditional bequests in a will or trust are normally upheld to give freedom that your assets pass the way you want at your death, sometimes conditional provisions are held to be either unconstitutional or void against public policy. The request for a new trial of a death row...
SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURTA California Appellate Court has reversed the Los Angeles Superior Court decision over the meaning of the term “grandchild” costing Damian Hurley, son of famed British actress Elizabeth Hurley and Steve Bing (although born out of wedlock), the sum of approximately $250 Million. The...
It is very common for a family member to be named to serve as a trustee of a special needs trust of a loved one with special needs (usually to save money), but the recent felony charges for financial exploitation against a Minnesota mother who...
It was recently reported in the Dallas Morning News that Tyler Pride (“Tyler”)”, who is the biological son of famed country-western singer Charley Pride (“Charley”), has contested the Last Will and Testament of his father. Tyler was not born of Charley’s long-time marriage to Rozene...
On Saturday, February 27, 2021, I was a guest on financial advisor Rick Foster’s radio show on 660 AM and he asked the question, “When should an IRA go into a trust?” As a result of this often-asked question, I decided to expand upon this...
The IRS has issued final regulations for Able accounts, a tax-advantaged savings account for those determined to be disabled before age 26, pursuant to the Achieving a Better Life Experience (Able) Act that was passed six years ago. Funds deposited into Able accounts do not risk...
