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Trust Modification and Termination

Modification

A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor. In such instances, the directive will be struck in order to accomplish the...

Co-Ownership Myths - III

Co-Ownership Myths - III

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a...

Executors -- Settling the Assets

As executor, your first step in settling the decedent's estate is to find all of the decedent's assets. You must then figure out which assets belonged solely to the decedent so that you can protect them until they can be distributed either...

Trusts, Public and Private - II

Trusts, Public and Private - II

An express trust is either public or private. A public trust, also known as a charitable trust, is an express trust created for a charitable purpose. If an express...

Medicaid Trusts

Medicaid is a needs-based (welfare) benefit program administered separately by each state, but funded in part by the federal government and in part by each state. A person qualifying for Medicaid is allowed to have only a minimal amount of...