“Decanting” – A new way to “unlock” an irrevocable trust

An irrevocable trust is frequently one part of an overall estate plan. The assets transferred to such a trust are no longer “owned” by the trust’s grantor. So, they are not counted as part of his estate, yielding estate and tax savings. Nonetheless, many individuals, especially those with high net worths, are reluctant to create.

It should be the law – Turn 18, sign a health care power of attorney

Our kids. All grown up and ready for college. We make sure to buy them textbooks, dorm furniture, meal plans, cleaning supplies they will never use, and debit cards for those unanticipated “necessities.” We pack them up and send them off, confident that we have crossed everything off our overly long college list. But we.

“But she gave it to me, not you!”

The late actress Farrah Fawcett. One of “Charlie’s Angels.” Fawcett, it is said, wanted to be known for more than her famous red swimsuit poster. If so, she got her wish. She will still be remembered as the subject of a portrait, but this time a multi-million dollar one painted by Andy Warhol. That portrait,.

Wisconsin’s new trust code

A potentially big change to existing and future trusts will occur on July 1, 2014, when the revamped Wisconsin trust law takes effect. The trust law governs how trusts are administered. The new law changes many aspects of existing trust law and creates several new provisions. The new law applies to trusts created after July.

What is a trust, anyway? Do I need one?

A “trust.” TV actors toss the word around on lawyer shows and crime dramas. “He’s got motive. He gets the money from the trust when she dies.” “She’s a trust baby. But the trust is running out.” We’ve heard of a trust. We know it’s some kind of legal document. And we know, from this.