Trusts

Trusts may be customized to suit the grantor’s wishes, which may include their determination of what’s best for their beneficiaries....

Once again, North Carolina holds steady at #15 out of twenty-five states with provisions for decanting. The collective includes two additional states that adopted legislation for decanting over the past year. The 2017 Trust Decanting State Rankings Chart shows South Dakota and Nevada remain top jurisdictions for decanting. ...

Without liability insurance, trustees remain personally accountable for trust administration mistakes. Certain insurance policies help to manage trustee liability. These errors and omissions insurance policies for trustees provide coverage in the event that claims, lawsuits, or damages occur as a result of the trustee’s actions or inaction....

TrustCounsel's principal attorney Gregory Herman-Giddens presents Gun Trusts in Elder and Special Needs Law at the North Carolina Bar Association Annual Symposium in Pinehurst this February....

Updates to one’s revocable trust may be made by an amendment or a complete restatement. An amendment updates a specific part of the trust, while a restatement updates the entire trust. ...

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 Is there a way to remedy an outdated irrevocable trust?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....