Leaving Assets to Underage Beneficiaries

Every parent wants to make sure their children will be taken care of if the unthinkable were to happen, and many grandparents or other family members often want their wills to include bequests to the younger generations in the family. However, there are special issues to consider when leaving assets to minors. Good intentions with poor planning rarely end with the desired results. Assets for Minor Children When planning for your children’s future, it’s important to consider what would happ...
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Joint Bank Accounts: Do You Understand the Risks?

Joint Bank Accounts: Do You Understand the Risks?
As our parents and family members age, there is inevitably a growing concern over their physical, emotional, and financial wellbeing. Oftentimes, these aging individuals require assistance paying their bills and managing their finances, and they turn to a trusted family member, friend, or caregiver for help. This is both common and appropriate. Often, they go together to the bank or financial institution to get shared access to accounts with very noble intentions, and the teller provides a form ...
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Essential Considerations for Helping Aging Parents

At some point, we will all face the situation where our parents begin to age and slow down, both physically and mentally. As an adult child, this shift in the dynamics of your relationship with your parents can be challenging to navigate. On one hand, you want to respect their privacy and independence, but on the other hand, you want to make sure they are continuing to make decisions that are in their best interests. Therefore, it’s important to begin assessing their changing needs and makin...
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Precautions for Providing For Financially Irresponsible Heirs

Providing for the future of your heirs is generally the primary goal for your estate plan. However, what do you do when one of your heirs is financially irresponsible or dealing with challenges that prevent him or her from making sound decisions? Whether the heir in question is dealing with substance abuse issues, a spouse that can’t be trusted, or simply a history of poor financial choices, certain precautions should be taken so the inheritance they receive doesn’t enable negative behavior....
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The Advantages of Mediation in Will and Trust Disputes

Lawsuits do not necessarily have to proceed to a trial before a judge or a jury. Often, before or after a lawsuit is filed, there is a window of opportunity in which the parties involved may reach a settlement or negotiation that will reduce financial costs, risks, uncertainty and the emotional turmoil of moving forward with a lawsuit. When this window presents itself, the attorneys representing the respective parties may be able to resolve estate and trust issues through a form of Altern...
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Gaslowitz Frankel Prevails on $80M Motion for Summary Judgement

Gaslowitz Frankel recently prevailed on a motion for summary judgment that resulted in its client retaining ownership and control of a grantor trust with a limited partnership interest valued at more than $80 million dollars.  The case, which was heard by Fulton County Superior Court, Business Court Division, centered on the issue of whether the terms of a grantor trust authorized the grantor to unilaterally substitute a limited partnership interest owned by the trust with an unsecured note. ...
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Will Contest, Probate, and Fiduciary Litigation Trends (Free PDF)

Adam Gaslowitz presented a speech entitled “Will Contest, Probate, and Fiduciary Litigation Trends: A Bird’s Eye View” at the recent ALI-ABA Advanced Estate Planning Techniques seminar in San Francisco. Lecturing to an audience of attorneys, practitioners and advisers from around the nation, Adam spoke about his observations, experiences, and predictions about the changing landscape of fiduciary litigation and litigation regarding the transfer of wealth. Highlights of the lecture included: ...
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