Category: Trusts

An item in Barron’s a few years ago by Lauren Foster demonstrates that being a trustee may be harder than some people expect (“The Five Biggest Ways to Bungle a Trust,” May 21, 2011).  Foster’s observations are must reading for anyone who expects to be a trustee, or who has nominated a family member to […]

One of the most useful and flexible wealth management tools is the revocable living trust, traditionally, we like to point to three basic benefits that these trusts offer. Professional asset management. After studying your goals and circumstances, our asset-management specialists will map out a diversified investment program appropriate to your requirements. Our objective is not […]

Historically, the traditional trust had a trustee and beneficiaries. The modern trust may have a four, five, or more fiduciary and non-fiduciary positions that might include: administrative trustee, distributions trustee, trust protector, investment advisor, loan director, charitable designator, person holding a power to add beneficiaries, persons holding powers of appointment, person holding the power to […]

How could someone who earned $650 million over 17 years be broke? That’s the question the actor Johnny Depp recently put to a team of forensic accountants and his new business manager, according to a Vanity Fair article (“How Did Johnny Depp Find Himself in a Financial Crisis?,” August 2017).  The team determined that Depp’s […]

In 2009, Elizabeth Briggs amended her revocable living trust to disinherit her son, Thomas, leaving the trust assets to her daughter, Judith.  The amendment stated that Thomas knew the reasons for his disinheritance. After Elizabeth died in 2013, an attorney for the estate and trust advised Thomas that he had received no property from his […]

There’s been quite a bit of press coverage of “fiduciary duties” when it comes to professionals giving financial advice. Bank trust departments and trust companies always have been held to the fiduciary standard, and are proud of it. Unfortunately, there are some documented cases when individuals with such duties simply ignored them. Special needs Lawrence […]

One of the most useful and flexible wealth management tools is the revocable living trust. Traditionally, we like to point to three basic benefits that these trusts offer. Professional asset management.  After studying your goals and circumstances, our asset-management specialists will map out a diversified investment program appropriate to your requirements. Our objective is not […]