Articles Posted in Actual Client Stories

You can predetermine “Reasonable Trustee Fees” – if only you are properly advised

A typical part of any living trust is a paragraph allowing payment of “reasonable” trustees fees. Most people establishing trusts do not realize that there is a great deal of latitude in what reasonable trustees fees are.

Trustee Fees Should be pre-established

Letting Some of the Kids Live in Mom’s House May Lead to Costly Litigation

Frequently we run across situations where parents will leave their residences to one or more of their children in their will or their trust. If they only have one child then the situation is usually okay but when there are multiple children and some are living in the house and some are not there can be problems. Allowing some children to live in Mom’s house messes up the other sibling’s inheritance.

Image of smug child who mom like more than sibblings

The Back Story

Doctor Ran Off with his Nurse  =  Lifetime Chase

Image of Doctor and nurseWe handled a case that spread across decades. It started out uncomplicated as we were the attorneys for a conservator who was handling the affairs of his distant cousin. The conservatee, Linda, was formerly Dr. Smith’s nurse. Linda had married Dr. Smith who apparently had a prior marriage and at least one daughter, but Dr. Smith had died many years ago and left his new wife, Linda, about $500,000 to live on.

The conservatee, Linda, became incompetent so a conservatorship was established to handle her money. We had been filing normal conservatorship accounting reports with the court every two years to prove how her money was being spent. When she passed away last year she had about $50,000 of the original $500,000 left and we had to determine how do distribute the estate and to whom.