You may be under the impression that modifying an irrevocable trust is impossible. However, in certain circumstances, even irrevocable trusts can be modified. Factors like errors in the trust document, law changes, or unforeseen circumstances could warrant alterations. It’s important to note that how much you can modify an irrevocable trust largely depends on the…
Many individuals in the United States utilize trust protectors. In short, this is an individual appointed authority over a trust. Trust protectors ensure that trustees maintain the integrity of the trust, make good distribution and investment decisions, and adapt the trust to changes in circumstances. As changes inevitably happen, the trust protector holds the authority…
Aretha Franklin owned four homes at the date of her passing in 2018. The emergence of two handwritten wills several months after her death sparked a dispute between her sons. They disagreed on what their mother’s true intentions were concerning her real estate and other assets. Kecalf Franklin and Edward Franklin sought to establish the…
By Allison C. Gordon, Esq. “All they keep askin’ me is if I’m gonna be your bride…”-Taylor Swift, Lavender Haze More and more commonly, the answer is “no.” However, an increasing number of couples choose to live together and start families without getting married. In fact, according to research conducted by the Pew Research Center,…
Michael Oher’s journey is an incredible story. He had a turbulent upbringing in foster care due to his mother’s struggles with addiction. Despite his difficult childhood, he became a football star at the University of Mississippi, a first-round NFL draft pick, and a Super Bowl champion in 2016. His life inspired the book and Oscar-winning…
Starting on January 1, 2024, the Corporate Transparency Act (CTA) will require certain business entities to file a report detailing the ownership of their entity. Lawmakers designed this new law to combat money laundering, tax fraud, and other illegal acts. For this reason, if you have an entity as part of your existing estate plan,…
Artificial intelligence (AI) is becoming more commonly used in our daily lives. You may have wondered if AI can generate an estate plan for you. Although AI can produce some estate planning documents, there is no assurance of validity for these documents. State laws can be intricate and challenging to comprehend, making it difficult to…
Your Legacy: How Do You Want to Be Remembered? Amid the hustle and bustle of daily life, it’s common to delay matters such as securing an up-to-date estate plan. However, this November is an excellent time for you to pause and reflect on the significance of ensuring that your wishes, possessions, and legacies are managed…