Trust and Estates Newsletters

Gifts During Life - I

An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee.

Inheritance Without Planning Means No Adding to the Default Plan

When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under which his or her net estate is disposed. When a person dies intestate, there is no adding to the default plan. The default plan is the only plan. This article discusses the disadvantages of descent and distribution related to the inability to add to the default plan.

Revoking a Will, Methods

As a general rule, a will can be changed or cancelled at any time before the testator's death. A will may be revoked (i.e., recalled or cancelled). This article discusses methods for revoking a will.

Trust Modification and Termination

A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor.

Wills

Basic Vocabulary