Deland on Estates and Elder Law

Sunday, June 19, 2016

Who Can be Trusted with the Cake?

Billy Beneficiary was happy with the wonderful cake his mother, Sally Settlor, had baked for him. What he was not happy with was what Sally Settlor did with the cake. She gave it to her sister, Tina Trustee, with instructions to give Billy only as much as she, Tina, thought he should have.

Billy was outraged! His Aunt Tina didn't even like cake! What's more, he didn't think she really liked Billy either. She was always telling him he ate too much cake, and criticizing his friends, including his roommate, Minnie Moocher.

So Billy went to his friend, Louie Lawyer, to ask what his rights were in the situation. Louie explained that Sally Settlor must have written down her instructions to Tina in a document, called a  Trust Document.

"What if there's no document?  Billy asked.

Read more . . .

Friday, June 17, 2016

Why You Might not Want to Have Your Cake

Billy Beneficiary complained to his friend, Louie  Lawyer, that his mother, Sally Settlor was letting him have the wonderful cake she baked for him. Instead, Sally had given the cake to Tina Trustee, with strict instructions to only give Billy as much cake as he ought to have.

Ah! Said Louie, your mother has set up a Spendthrift Trust for you. You are very lucky!

Billy didn't see it that way. "I'm not a spendthrift! I wouldn't consume everything all at once!"

"Maybe not, said Louie.

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Thursday, June 16, 2016

Spendthrift Cake


Sally Settlor made a wonderful cake. It was huge! It was going to be delicious. Sally didn't bake the cake for herself - she would never be able to eat that much cake anyway. She baked the cake for her son, Billy Beneficiary. Billy Beneficiary really loved cake.

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Wednesday, June 8, 2016

Trustees, Beneficiaries, and Cake

Have you heard the expression "you can't have your cake and eat it too?" Do you know what it really means? I don't.  But I'm going to use the distinction between "having" and "eating" cake to explain the difference between Trustees and Beneficiaries.

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Monday, September 21, 2015

Can You Be Your Own Trustee?

Who should be the trustee ...

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Monday, September 14, 2015

Deed Scam

A scammy offer.

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Thursday, December 11, 2014

Black Ice

There is black ice on the roads tonight.  We have a policy, here at Deland Law Office, that we do not ask our clients to endanger their health and their lives by coming to the office when the weather is dangerous.  

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Monday, June 2, 2014

Trustees and Bank Accounts

Do you want to be in charge of your own bank account?  If your answer is a resounding "yes!" then you need to have your bank account titled into your Life Trust.  If your bank account is in your own name alone, then, as soon as you get sick and can't go to the bank, or get confused and can't balance your account, you're in trouble.  The banker will tell you: "just put someone else's name on the account!"  But doing so without the protection of your Life Trust is giving your money away.  Your bank account becomes the property of that other person.   That other person would have to come into the bank in order for you to remove them from the account.

Even if the other person is your husband or wife, the same rule applies - by all means have both names on the account. But use the Life Trust, for flexibility and control.  If you were both sick, your Life Trust can name another trustee to take over.  After you're gone, your Trustee can settle the account with the rest of your estate, instead of having to disentangle it from someone else's property first.can 

Monday, May 26, 2014

5 reasons why you might need a will

There are lots of reasons why a will is one of the documents that every person should have.  Here are 5 of them:

1)  You own real estate.  A will can make your heirs' lives easier by avoiding the necessity of a "license to sell" from the court, if selling turns out to be necessary.

2)  You own anything in your own name.  A will can specify what is done with anything you die owning in your own name.

3) You own everything jointly with another person.  A will can specify what happens to the property if that person dies, and then you do.

4) You own everything in a trust.  The trust only governs property that has the trust's name on it.  If you receive an inheritance, or if you die owning something (like a car, perhaps) that is not in the name of the trust, a will can provide your instructions.

5) You want your body to be cremated.  Otherwise, all next of kin will have to approve cremation.




Of course, there are a lot of other reasons why people do wills.   Let me know what I left out, in the comments here , or on Facebook.

Wednesday, May 21, 2014

What Documents Should Every Adult Have?

What documents do you really need?  This post lists the Four basic documents which every adult should have.

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Sunday, January 13, 2013

Sign here, please.

"Sign here, please."   We are all confronted with this casual request fairly frequently - at the bank, at the doctor's office,  at the pharmacy.  Do we always know what we are signing?  Often, we are not even given an opportunity to read what we are agreeing to.

Read more . . .

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Jennifer A. Deland, Counselor-at-Law advises clients throughout the Metrowest area, including Holliston, Hopkinton, Milford, Medway, Medfield, Ashland, Framingham, Natick, Sherborn, Dover, Southborough, Sudbury and Westborough.

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