Monthly Archives: October 2010

Etiquette for calling your parents Estate Planning Attorney

Etiquette for calling your parents Estate Planning Attorney John and Mary have hired an attorney who has helped them create and fund a revocable living trust. John and Mary have two adult children Sam and Jim. Sam is the successor … Continue reading

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Severing Joint Tenancy

Severing Joint Tenancy John and Mary have set up a revocable trust and transferred all their assets to it except for one piece of real property. John and his brother Mike own that piece of real property ‘as joint tenants.’ … Continue reading

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A Revocable Trust Does Not Avoid Creditors

A Revocable Trust Does Not Avoid Creditors Some people wish to place their assets beyond the reach of their creditors. A revocable trust will not accomplish this result. The creator of a revocable trust retains all rights in the assets … Continue reading

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Community Property and Qualified Retirement Plans

Community Property and Qualified Retirement Plans John and Mary live in a community property state. They have been married for many years but they each have children from prior marriages. They have an A/B/C or QTIP Trust which divides and … Continue reading

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Beneficiary of Life Insurance

Beneficiary of Life Insurance John and Mary have created a revocable living trust. John and Mary each have separate policies of insurance on their lives. They can name the spouse as the primary beneficiary and the trust the contingent beneficiary, … Continue reading

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Income and Remainder Beneficiaries of a Trust

Income and Remainder Beneficiaries of a Trust You may become the trustee of a trust that has become irrevocable on the death of the friendĀ  of yours who created it. This particular trust provides that your friend’s mother gets the … Continue reading

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A Revocable Trust is not a substitute for a Pre or Postmarital Agreement

A Revocable Trust is not a substitute for a Pre orĀ  Postmarital Agreement When spouses comingle assets, it makes it easier to contend during a later divorce that the character has been changed from one spouse’s separate property to the … Continue reading

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