When people are asked by a friend or loved one to administer a trust after they die, they generally don't consider the possibility that they could end up in court with family members (even their own), business associates of the deceased person, charities or other beneficiaries who don't believe the trust is being properly handled.
It's not uncommon for individuals who are moved by a charitable organization's efforts to want to pledge their support to aid them in funding their future outreach. This is why many people set up charitable trusts or sign contracts promising to make a future contribution to a charity. Many of these nonprofit organizations will request that a donor places any oral pledges in writing. When charities don't get what's promised to them, they often file a lawsuit.
Individuals who place their assets or property into living trusts do so in hopes of being able to more easily transfer their assets over to their loved ones when they pass away. While many trustors hope that setting aside their property in a trust will make things easier on their family, any loved ones that have to deal with someone who contests its existence may think otherwise.
Most people assume, as they're developing their estate plan, that there will be some length of time between their death and their spouse's or other primary heir's. However, this isn't always the case.
Nonprofit and charitable organizations depend on the financial support of people and businesses to continue working toward their goals. Some people will send support in the form of a single payment, while others might commit to monthly contributions to your charity.
Many Melbourne residents with means set up trusts to make sure that their estates don't have to pass through probate when they die. This can protect a decedent's loved ones from having to go through a long process to transfer or receive assets. This process isn't always conflict-free though. There are instances in which trustees fail to administer trusts appropriately. There are remedies that beneficiaries can pursue in these instances like this.
Trusts are big business in Florida, and they help businesses to keep going. Trusts include a broad range of legal and financial instruments that put people or parties in charge of assets on someone else's behalf. One of their most popular uses is passing on property without having to include it in a last will and testament.
If you're dealing with the estate of a loved one who was a resident of Florida when they died, you may find some of our state's probate laws confusing. Don't worry -- you're not alone.
It's common for questions to be raised regarding the mental capacity of a decedent after they have passed away. These questions are often raised because the beneficiaries of the estate are surprised about the wishes that their loved one has expressed in their will or trust.
Death is the ultimate mystery, and philosophers have spent thousands of years ruminating on where the experience may take us. But there are several questions that have to be answered about death in our world that take more practical forms. One of the questions that interests the others around us is how we leave our bequests and other assets to them or their peers.