The purpose of a trust document is to convey information to its intended audience. But that audience is typically a very disparate group in terms of its education in general and its knowledge of trusts and taxes in particular. How can you write a trust that’s understandable to them all?
California law gives residential borrowers various rights and remedies when it comes to foreclosure prevention alternatives against a mortgage servicer, mortgagee, trustee or beneficiary under a deed of trust, and authorized agent. But what happens after the borrower’s death? Continue reading
Filed under: Estate Planning, Legal Topics, New Legal Developments, Real Property Law | Tagged: deceased borrower, foreclosure, foreclosure prevention, residential borrower, successor in interest | Leave a comment »
How much is a fictitious brokerage account worth, and what happens when it loses value? The IRS and the Tax Court have struggled with issues arising from the Bernie Madoff scandal. The answer may depend on when (and how) you ask the question. Continue reading
So you have a money judgment, but the debtor dies before you can collect. Never mind. You still have a judgment lien on the debtor’s estate. Right? Continue reading
Filed under: Appeals/Post-Trial Matters, Business Law, Estate Planning, Legal Topics, Litigation Strategy, New Legal Developments | Tagged: creditor, death of debtor, debtor, debtor's estate, enforcing a judgment, judgment lien, money judgment, probate | 4 Comments »
State law changes enacted in 2010 have restricted the enforceability of no-contest clauses. Under Prob C §§21310–21311, a typical no-contest clause providing that an unsuccessful contestant gets nothing from an estate or trust is enforceable only against a “direct contest” brought without probable cause on specified grounds. And even if it is enforceable, a no-contest clause may not be an effective deterrent if the beneficiary thinks the amount at stake is outweighed by the benefit of a successful contest. Continue reading
Your client has just been named conservator over someone suffering from dementia as well as over his or her estate. There will be much to do, but some first steps should be taken right away. Continue reading