| Trust Modification and Termination |
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| A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor.More... |
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| Limited Inheritance in Unusual Circumstances |
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| State statutes of descent and distribution are usually supplemented by other statutes or court rulings that limit or prohibit inheritance in unusual circumstances. This article discusses some of those unusual circumstances.More... |
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| Inheritance Without Planning Means No Person Is In Control |
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| When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under with his or her net estate is disposed. Under the default plan, no person is put in control of the disposition. The disposition must go according to the defaul plan. This article discusses the disadvantages of descent and distribution related to that inability to have a person put in control of the disposition.More... |
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| Revocable Living Trust |
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| 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. More... |
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| Lapse, Ademption, & Abatement |
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| At common law, if a beneficiary should die between the execution of the will and the death of the testator, the bequest to that beneficiary lapses - that is, the gift becomes void - and the bequeathed property is distributed according to the will's residuary "catchall" clause. If the will contained no residuary clause specifying disposition of the rest, residue, and remainder, of the estate and named no contingent beneficiary, the property is distributed according to the state's intestacy law.More... |
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