Estate Planning, Trust and Probate Law
What is Estate Planning law? This area governs the laws, procedures and practices associated with planning for one’s 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
- Timeshare Reseller and Transfer ScamsTo ensure a person does not suffer from financial difficulty when purchasing a timeshare, it is critical to understand if a reseller or transfer scam is taking place. Knowing what these scams are and how to avoid them is essential, and the potential purchaser may need to research or assess the property personally before making the purchase.
- How to Remove a Mechanic’s Lien in CaliforniaAs with other liens, the homeowner is unable to sell the property until the lien no longer exists, and this may also cause complications when acquiring a mortgage or other financial outlets. Removing the lien is important but knowing why it exists is crucial so that another lien does not take its place in the future to cause further problems for the homeowner.
- Forensic Expert Witness on Faulty Construction MaterialsConstruction materials are necessary for a variety of projects that include buildings, roads, products and artistic expression. When these materials are faulty or have defects, it is much more likely that those involved with these resources may become injured or face devastating consequences that may require the services of a forensic expert.
- Foreign Inheritance Blocked by U.S. Tax LawsWhen inheriting a foreign estate, the individual needs to understand what laws pertain to the process so his or her inheritance does not face complications with the United States Internal Revenue Service agencies. It is recommended to contact a lawyer before attempting to import the foreign estate funds, assets or property.
- Can I Back Out of a Timeshare Agreement?Getting out of a contractual agreement is often difficult if the final paperwork signed finalizes and then processes for all involved parties. However, if the document is still awaiting the last stages, the potential buyer may back out, or if there are cancel stipulations within a certain timeframe, the purchaser may back out legitimately.
- Rental Housing and ADA ComplianceViolations of the Fair Housing Act and the Americans with Disabilities Act could lead to the property owner, landlord or renting agency to face severe consequences in fines and other punishments. It is important that any property deemed worthy of rent or lease has provisions for the ADA and those that need these conditions.
- Potential Remedies for Timeshare ReliefIt is when the owner of a timeshare interest wants to sell or transfer the ownership to another that a remedy is often necessary due to restrictions in the contractual agreement. Looking for relief from these situations could lead to the hire of a lawyer to assist in understanding what remedies are possible and what action to pursue.
- Potential Hidden Fees Involved in TimesharesTimeshare interests purchased by a new owner may incur additional fees based on the state, city or local area where the property actually resides or additional concerns that the potential buyer is not ware of during the sale. It is important to understand these fees so that the timeshare details do not become a hardship for the new owner.
- Examples of Unfair Competition against Small BusinessesUnfair competition against smaller businesses causes severe devastation to the owner and company when facing a larger corporation or a non-profit organization. The behavior and activities that these other entities engage in may cripple the small business and take away entire revenues streams to the point that the company breaks.
- Charitable Remainder Unitrust – What Are TheyUnitrusts are standard trusts with a trustee and monetary disbursements to the beneficiaries with an added difference once the trust term expires. Once the trust is no longer paid to the beneficiary, the assets that remain within the unitrust then go to the charity of whichever purposes the trust exist for by the person designating it.
- 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 you’re 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.