Trusts typically are structured to provide for the best interests of the beneficiaries. The settlor may have had the best intentions when establishing the trust, but a trust created by a great-grandparent more than seven decades ago for the benefit of their great-grandchild might include provisions that prove impractical or unviable when it comes time to administer the trust for the great-grandchild’s benefit. Is there a way to remedy an outdated irrevocable trust? Under certain circumstances, yes. […]

Real property poses unique set of considerations in the context of estate or trust administration. To understand more about how a personal representative oversees the management and distribution of real property during estate and/or trust administration, take a closer look at some variables that affect property distribution. […]

Revocable and irrevocable trusts follow unique termination procedures. Although their name implies they cannot be changed, irrevocable trusts may be modified in certain circumstances. The circumstances surrounding a trust termination, and the type of trust, help to determine how a trustee may handle termination. […]

Primary, contingent and remainder trust beneficiaries have different rights as beneficiaries. Who has the right to bring a claim against the trustee of a revocable living trust? […]

Trust beneficiaries have legal rights detailed in the trust documents and governed by state and federal trust code. If problems have resulted from a negligent trustee, or the trustee fails to adequately address issues brought to his or her attention by the beneficiary, it might be time for the beneficiary to reach out to a trust attorney and, potentially, the courts for corrective action. […]

An executor's knowledge of state and federal legislation pertaining to estate administration might be limited. This limited knowledge poses a risk of errors. […]

Individuals in North Carolina who have married more than once might have estate planning issues they are not aware of. Whether one has remarried following a spouse’s death or divorce, one should take time to review existing estate planning documents. […]

Financial guru Dave Ramsey shares advice regarding managing debt and finances with millions of people. However, one of his books makes a broad statement about living trusts that is not entirely true. […]

Families may consider ownership of multiple properties for different reasons. Some folks prefer to have an extra property closer to family, for professional purposes, for leisure, or as an investment. While owning multiple properties may accomplish one or more of these goals, acquiring additional property can cause liability issues, tax complications, and probate concerns. […]

Accumulating assets takes time and effort; protecting assets properly requires both as well. Here are various factors that could ruin a plan and risk asset loss. […]