In this case, the Florida Court of Appeals held that an irrevocable trust could not be terminated under the Florida Uniform Trust Code even where all the beneficiaries agreed to it, when the termination would violate a material purpose of the Settlor in creating the trust. […]
The Bipartisan Budget Act of 2015 became effective January 1, 2018. Partners in general or limited partnerships, family limited partnerships, and LLCs will want to address the issues raised by this new law by amending their partnership agreements sooner than later.
You can now create a trust for yourself, the assets of which will be protected from claims of future creditors. Mississippi has joined a growing number of states that allow a person to establish a trust for himself with his own assets, with the assets in the trust being protected from the Settlor’s future creditors. […]
The Lawyer’s Revenge, Part 2 by: R. David Marchetti, J.D. LL.M. We have previously written about the vast contribution made to the financial well being of the legal profession by persons who attempt to write their own wills, with or without with the help of a “canned” legal form system such as LegalZoom. New evidence […]
The story is told of a small town lawyer in Mississippi who botched every deed he ever drew. The other two lawyers in town were talking one day, and one was complaining about how terrible it was that the third lawyer was messing up land titles around the county. The older, wiser lawyer said, “That’s […]