Estate Planning, Trust and Probate Law
What is Estate Planning law? This area governs the laws, procedures and practices associated with planning for oneís estate in the event that he/she becomes incapacitated and for when he/she is deceased. It encompasses the roles and activities of Executors and Administrators; creation and administration of Wills and Last Testaments; Trusts and Living Trusts; Probate; Medical Powers of Attorney, DNR Orders and Advance Directives; associated tax issues; and various other related topics.
The laws governing most of these areas are created primarily on the state level and therefore vary greatly. The Uniform Probate Code (UPC) has sought to clarify, unify and modernize these laws throughout all the U.S states and D.C., but to date, only about 30% have completely adopted the Code, while some of the remaining state have only implemented parts of it. Estate related tax issues, such as gift tax laws and federal estate tax, and various college savings plans are regulated by federal as well as state laws.
The Estate Planning Center on HG.org provides in depth coverage of estate planning law, with detailed definitions and links to various resources. In addition to the topics referenced above, our Estate Planning Center also offers resources, infomraiton and links covering the Fundamentals of Estate Planning; Types of Wills and Testaments; Types of Trusts; Property That Does Not Pass Via a Will; and Other Estate Planning Issues.
Articles on HG.org Related to Estate Planning and Trust Law
- What California Real Estate Investors Should Know about Buying Apartment BuildingsApartment buildings can be an excellent investment for California real estate investors. Factors like the size and style of the building, the type of units available, and of course, the location are all important. An apartment building owner can manage the property directly or delegate this role to a manager, but liability for breaches of a lease agreement, or for violations of California landlord-tenant law, will ultimately fall on the owner rather than the manager.
- Resale Price Maintenance, Horizontal Conspiracies, and Antitrust LawIf you are looking for controversy, you came to the right place. Today, we discuss resale price maintenance, one of the most contentious issues in all of antitrust. If you look around and see a bunch of antitrust economists, hide your screen so they donít start arguing with each other. Trust me; that is the last thing you want to experience.
- Anti-SLAPP Motions in CaliforniaThe U.S. court system handles a vast array of civil lawsuits, from small personal or business disputes to massive corporate matters. In any system of this size, abuses are bound to happen. One notable abuse of the judicial system involves the strategic use of meritless lawsuits, known as SLAPPs, to silence or suppress dissent, criticism, or certain other constitutionally protected activities. California law provides strong protections for businesses and people who are subjects of a SLAPP.
- How Financial Aid Is Affected by Gifts and InheritanceThe vast majority of college and university students depend on financial aid to help them fund their education. When a college student receives a gift or inheritance, he or she may be ecstatic about the prospect of having more financial resources at their disposal, especially if funds are generally limited. However, receiving a gift or inheritance can have an impact on a studentís financial aid.
- Protecting a Childís SSI Benefits When They Receive an InheritanceDisabled children may qualify for SSI benefits. These benefits can be particularly helpful in families that do not have much income. Sometimes a child who receives these benefits may have a loved one who cares about him or her and wants to leave much-needed funds behind to an individual in this situation. However, if it is not structured properly, an inheritance can cause a person on SSI to lose their benefits.
- What Are Prescriptive Easements?When a person adversely possesses property or squats in a building, he or she may cause a prescriptive easement to occur. Knowing how this occurs and what ways to prevent it are both important for land and property owners, so they may implement the proper preventative measures and avoid a portion of land or a building to transfer ownership to someone else.
- Unfair Competition Cases Involving Trademark InfringementTrademark infringement is a serious offense to a company with an established brand with a long member in the publicís eye. However, when the opposing entity causes the business from consumers to shift over and start leaving the brand, this could complicate matters and end in litigation for unfair competition practices.
- Sellerís Obligation to Disclose Certain Material ConditionsIt is important for a seller to disclose various material conditions to potential buyers to avoid litigation at a later time if the purchaser discovers defects or severe complications within the property. Many of these details depend on state laws, but it is the sellerís obligation to ensure the buyer is aware of certain material conditions and facts.
- Illinois Statute Regarding Unfair CompetitionUnderstanding state laws regarding unfair competition is essential when living in that specific state, and in Illinois, this could affect what behavior a business engages in when competing with another company. In this state, it is important to safeguard and protect against these practices as proposed by both federal and state regulations.
- Intentional Interference with Economic Relationships and Unfair CompetitionWhen a company engages in intentional unfair competition practices that seek to redirect or alter an economic relationship that interferes with accruing revenue, the business may face serious charges and possible damages owed to the other entity. The company must prove that the business did knowingly engage in such behavior to harm incoming profits.
- All Estate Planning and Trust Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Estate Planning including: estate and trust, inheritance law, personal property, probate, wills.
Estate Planning and Trust Law - US
- ABA - Real Property, Trust and Estate Law Section
The Real Property, Trust and Estate Law Section is a leading national forum for lawyers, and currently has over 30,000 members. The Real Property Division focuses on legal aspects of property use, ownership, development, transfer, regulation, financing, taxation and disposal. The Trust and Estate Division focuses on all aspects of trusts, estate planning, employee benefits, insurance, and probate and trust litigation.
- Elder Law Answers - Estate Planning
The knowledge that we will eventually die is one of the things that seems to distinguish humans from other living beings. At the same time, no one likes to dwell on the prospect of his or her own death. But if you postpone planning for your demise until it is too late, you run the risk that your intended beneficiaries -- those you love the most -- may not receive what you would want them to receive whether due to extra administration costs, unnecessary taxes or squabbling among your heirs.
- Federal Inheritance Tax
Depending on where you live the tax code may make reference to inheritance tax, estate tax, and even "death duty." Here in the United States, there is a difference between estate taxes and inheritance taxes. Estate taxes are levied on representatives of the deceased person, while inheritance taxes are levied on the beneficiaries of an estate. Elsewhere in the world, the terms estate tax and inheritance tax are used interchangeably.
- IRS - Estate and Gift Taxes
The Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death. The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them. The total of all of these items is your "Gross Estate." The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets.
Organizations Related to Estate Planning and Trust Law
- American Academy of Estate Planning Attorneys
The American Academy of Estate Planning Attorneys is an exclusive, membership organization serving the needs of attorneys and law firms nationwide. Academy members focus on one or more of the following areas: estate planning, elder law, post-mortem services and financial services. Members are equipped with the legal research and education it takes to serve consumers with the highest quality advice and documents.
- American Association of Trusts, Estates and Elder Law Attorneys
The American Association of Trusts, Estates and Elder Law Attorneys (AATEELA) is an invitation-only, professional association of estate planning and elder law attorneys from across the United States. Members are selected on the basis of their professional reputation, ability and creativity in the fields of trusts, estates and elder law. Each has made substantial contributions to these fields through lecturing, writing, and continuing education instruction.
- American College of Trust and Estate Counsel
The American College of Trust and Estate Counsel (ACTEC) is a nonprofit association of lawyers established in 1949. Its members are elected to the College by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. All ACTEC members have made substantial contributions to the field of trusts and estates law through writing, teaching and bar leadership activities.
- National Network of Estate Planning Attorneys
The National Network is a cooperative alliance of nationally recognized estate planning attorneys from across the country. Together they provide one another with the support and tools needed to serve their clients better while building highly successful and rewarding practices.
- Society of Trust and Estate Practitioners
The Society of Trust and Estate Practitioners (STEP) is a unique professional body providing members with a local, national and international learning and business network. STEP provides education, training, representation and networking for its members, who are professionals specialising in trusts and estates, executorship, administration and related taxes. Members advise clients on the broad business of the management of personal finance. Full members of STEP are the most experienced and senior practitioners in the field of trusts and estates.
Publications Related to Estate Planning and Trust Law
- ABA - Estate Planning FAQs
The Real Property, Trust and Estate Law Section provides a wealth of practice information. Whether youíre looking for RPTE Section news, law specialty issues and cases, or news-and-feature articles, we strive to meet your educational and informational needs!
- Oxford Journals - Trust and Trustees
Trusts & Trustees is the leading international journal on trust law and practice. The most significant source of information in its field, the journal is essential for all trusts practitioners and lawyers,
- Trusts and Estates
Trusts & Estates is the town center where experts who serve the ultra-wealthy's planning needs gather to gain insight into their specialties and to learn about related professions. This community includes attorneys, fiduciaries, accountants, investment advisors, charitable giving specialists, family office executives, insurance agents and valuation experts.