A living trust, also known as an inter vivos trust, is a type of trust that can benefit you both while you are still alive, and after you pass away. However, before you think about creating a living trust for yourself, it’s important to understand what it is and what benefits it can offer. Here are five things you should know about living trusts:
Tag: estate law
Legal Issues Remain After Passing of Gene Hackman
Eugene Allen Hackman, or Gene Hackman as he was commonly known, passed away in February 2025, shortly after the death of his wife Betsy Arakawa. Although this tragedy is bad enough on its own, there are issues with their wills and Trusts that have raised serious legal concerns after their passing. Even worse, these documents were signed about two decades ago, making them potentially much harder to contest. Gene Hackman’s estate is estimated to be approximately $80 million dollars.
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Fight Over Murdoch Trust Reveals Estate Planning Issues
A legal fight over the family trust of media mogul Rupert Murdoch has resulted in a surprising loss for the billionaire, which could have significant implications for his family and his business empire. Murdoch, the owner of numerous television and newspaper companies, wanted to change the trust to favor one of his children over the others. However, he has lost the battle, showing the importance of proper and timely estate planning.
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Five Important Things You Should Know About Living Wills
Depending on your exact circumstances, a living will can be an important part of your estate plan. It can make your wishes clear to your loved ones and your doctors, ensuring you receive the care you would want if you can no longer make your own healthcare decisions. Here are five important things you need to know about living wills:
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What Role Can a Living Trust Play in Your Estate Plan?
For some people, a living trust can be an incredibly useful way to organize their assets as part of an estate plan. Not only is it an effective means of distributing your assets, but it can potentially have significant tax benefits and offer other useful protections. But what is a living trust, exactly, and what role can it play in your estate plan?
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Why is it So Important to Have a Power of Attorney?
For many people, a power of attorney is an essential component of an estate plan. With this essential document in place, you will be prepared to face the possibility of needing someone to handle your affairs if you are unable to do so yourself. But what exactly is a power of attorney, and why is it so important to have one as part of your estate plan?
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Five Things You Need to Know About Being an Executor
If you have been appointed as the executor of an estate, it may feel like you have been given an overwhelming responsibility. And while it can be difficult, especially if legal problems arise during the Probate of your loved one’s Will, you can make things much easier for yourself if you understand a few basic principles. Here are five things you need to know about being an executor:
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What Does it Mean to Be Legally Incapacitated?
A critical part of planning, beyond creating your last will and testament, is planning for the possibility that you may become legally incapacitated. Planning for incapacity ensures that your loved ones have everything they need to take care of you, if you become unable to handle your personal affairs. But what does it mean to be incapacitated, and why does it matter?
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Five Things You Need to Know About Contesting a Will
Ideally, when you probate a Last Will and Testament also known as a “Will”, there are no issues that require litigation. Unfortunately, there is always the chance that something may go wrong, leading to one or more heirs choosing to initiate a Will contest, questioning the validity of the Will or the capacity of the person who executed the Will. Here are five things you need to know about contesting a Will:
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Five Benefits of a Testamentary Trust You Should Consider
A testamentary trust can be an exceptionally useful tool for many people trying to plan their estates. However, it is not necessarily appropriate for everyone, and you should consider the benefits carefully, with the guidance of an experienced attorney, to see if it works for you. Here are five benefits of a testamentary trust you should consider:
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