Trust Administration
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Understanding and Avoiding Estate Disputes: Lessons from the Cannon Mills Trust Case
In a recent high-profile case, the Cannon Mills family and Atrium Health found themselves in a legal battle over a $17 million trust fund. The dispute centered on who should inherit the trust after the death of the original heir, Charles Albert Cannon III. Resolved in North Carolina’s Business Court, the case underscores the critical…
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Top 10 Estate Planning Tips for Parents with Young Children
Estate planning is important for every adult, but it becomes essential for parents with young children. A well-drafted estate plan protects your children if anything happens to you. Collaborating with an experienced estate planning attorney is the best way to create or update your plan to provide for your children in your absence. To help…
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How Do I Trust Thee…Part I
When clients undertake Estate Planning, they face the difficult decision of naming a trustee after their death. While Estate Planning documents are effective once signed, they often contain provisions regarding what will happen upon the trustor’s death. Because of the application years in advance, the choice of who will serve as trustee often vexes clients.…
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Do I Have to Accept the Job of Trustee?
When it comes time to administer a trust, the person appointed as the Trustee is responsible for doing so. I am sometimes surprised to have a client tell me they had no idea they were appointed to be the Trustee of a trust. They’ve come to me to seek our advice on administering the trust;…
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A Living Trust can significantly reduce costs of Administration.
A living trust is among the most common additions to a typical estate plan. One reason for this is that a living trust can be used to further a variety of estate planning goals, including probate avoidance, incapacity planning, and asset protection for spouses, children and others who might inherit from you. One concern clients…
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Should I Appoint a Family Member or Professional to Undertake the Responsibilities of Trustee?
At Clarity Legal Group, our clients often choose to incorporate one or more trusts into their estate plan. Although each trust agreement is uniquely tailored to the needs of the Settlor (the trust creator), one thing all trusts have in common is the need to appoint a Trustee to oversee the administration of the trust.…
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How to Pick Your Trustee
As both your estate and your family grow, the need for a more comprehensive estate plan will likely be clear. When you decide to improve your existing estate plan, additional estate planning tools and strategies may need to be considered and ultimately added to your existing plan. At Clarity Legal Group®, our attorneys consider the…
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Your Trust Administration Checklist
If you have been put in charge of the trust administration process to settle an estate involving a living trust, this trust administration checklist can help you. There is a lot of responsibility that is involved in administering a trust and you need to ensure that you have done the necessary steps to facilitate the timely…
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Trust Administration is a More Private Way to Transfer Wealth
The trust administration process is a preferred way of transferring wealth after a death occurs. One of the many valuable features of planning with a Living Trust is the privacy made possible through this planning technique. This privacy is available only if you have organized the management of your affairs through a trust before your death.…
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What Is A Living Trust?
What Is A Living Trust? from Mark Costley You have options when you are deciding how you want your assets to be transferred after you die. A last will is one of your options, but there are others that you should certainly explore. One of them is a living trust. Learn more about living trust…
Free Estate Planning Worksheet
There’s a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you’ll be one step closer to getting yourself and your family on the path to a secure and happy future.