Trusts

Trusts Archives

Is There Such a Thing as a Family-First Family-Feud?

2020-08-20T10:50:31-04:00July 21st, 2020|Categories: Trusts|

I'm attempting to negotiate my first family-first approach to a family feud. This is where during the family feud process, specifically the beginning, the family takes a family-first, or rather, business first, approach to their control battle. I see it quite often, and it may actually be a known thing that I'm about to describe, [...]

Why Estate Planning Matters During Coronavirus and What You Can Do to Prepare

2020-07-21T16:10:29-04:00May 28th, 2020|Categories: Estate Planning, Power of Attorney, Trusts, Wills|

The outbreak of Coronavirus has people all over the world thinking about their advanced directives. While this topic is generally annoying to think about (adulting is annoying) and even more annoying to discuss with your loved ones, estate planning is now more than ever a critical tool that can be used to assure that your [...]

What Can Be Learned From Bethenny Frankel’s Real Estate Debacle?

2020-07-21T16:17:57-04:00May 1st, 2020|Categories: Real Estate, Trusts|

It all started when the former Real Housewife wanted to hide her identity during the purchase of her $5 million Tribeca apartment. The genius that she is, created a trust and claims that she instructed her attorney to have only her as the beneficiary. He however, named both her and her then soon-to-be-ex-husband as the [...]

Chill, We Have a Trust for Cryonics

2019-10-03T16:32:16-04:00March 15th, 2019|Categories: Trusts|

Cryonics is the practice of deep-freezing recently dead bodies in the hope that scientific advances will allow them to be revived in the future.  The next logical question is, how can one ensure access to their funds once thawed.  Ok, maybe that’s not the next logical question, but it is a very good question. The [...]

What Can Be Learned from Mac Miller’s Estate Plan

2019-10-03T16:39:47-04:00September 21st, 2018|Categories: Trusts, Wills|Tags: , , |

Malcolm McCormick, known and adored by fans as Mac Miller, the rap artist, passed away on September 7 with an estate estimated at 14 million dollars.  The 26-year-old rapper set up both a trust and a will in 2013!   I know, this information is enough for anarticle these days!! But there's more...as expected, he named [...]

When Disinheritance Is a Good Thing – the Last Will and Testament of Burt Reynolds

2019-10-10T16:53:46-04:00October 19th, 2018|Categories: Trusts, Wills|Tags: , |

Hollywood star Burt Reynolds intentionally left his son, Quinton, out of his will, but it doesn’t appear to be due to bad blood.  The actor known for his roles in “Smokey and the Bandit”, “Deliverance” and “Boogie Nights,” provided for his 30-year-old son via a trust. “Disinherited” is a word you don’t want to hear, [...]

Navigating the Trust Agreement Highway

2019-10-03T16:31:49-04:00July 6th, 2018|Categories: Estate Planning, Trusts|Tags: , |

Just like cars, there are many different types of trusts out there for you to select. For those of you who aren’t familiar with the concept, here is a run-down; a trust is a legal arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Most trusts [...]

Does Your Trust Need a Facelift?

2019-10-03T16:32:10-04:00April 27th, 2018|Categories: Estate Planning, Trusts|Tags: , , |

Hey, we do live in South Florida. But seriously, I come across many trusts created in the 80s, 90s and early 2000s where life was slower, and trusts were irrevocable. These irrevocable trusts had a goal to reduce the size of a person's estate to avoid estate tax. If you've been reading my  newsletters, you [...]

Hugh Hefner: An Estate Planning Role Model

2019-10-03T16:33:01-04:00October 31st, 2017|Categories: Estate Planning, Trusts, Wills|

In case you haven’t heard, Hugh Hefner “Hef”, the publisher of Playboy Magazine, died last month, at the age of ninety-one. Although his Will was not made public, It’s clear that Hef took the necessary steps to ensure that his estate plan was iron clad. Hef is survived by his third wife Crystal Hefner and [...]

What’s Better, a Will or a Trust?

2019-10-03T16:33:21-04:00March 12th, 2014|Categories: Trusts, Wills|

As an estate planning attorney, I’m often asked, "How do I know if I need a trust as opposed to a will?"  Many people assume that Trusts are just for the wealthy, but the benefits that they offer to the average person are significant.  Here are a few factors to consider when deciding between a [...]

What’s a Grantor Retained Annuity Trust (GRAT)

2019-10-21T16:35:39-04:00March 5th, 2014|Categories: Trusts|

What's a Grantor Retained Annuity Trust (GRAT) A grantor retained annuity trust is an effective estate planning tool that has a number of advantages over other techniques. It allows the creator of a trust to receive annuity payments based on assets placed in the trust. The grantor retains his or her rights to the annuity [...]

Reasons to Create a Trust

2019-10-03T16:33:43-04:00February 26th, 2014|Categories: Trusts|

A well-crafted estate plan often includes a Trust. As flexible and powerful tools, Trusts allow us to gain greater control over how assets pass are passed on to future generations. There are several reasons to create a Trust, specific to each individual’s circumstances. Often, people establish a Trust as a method of protection. Protecting one’s [...]