As has been reported on this blog in the past, there are many people in Minnesota and elsewhere who may try to sell residents, particularly senior citizens, a revocable living trust, claiming that the device will "avoid probate" and implying that it is a sure-fire way...
Blog
Trust Administration
Famous author’s wife, children in dispute over tax burden
Many Minnesotans may have enjoyed the novels of author Tom Clancy. However, about a year after the multimillionaire author's death, his family is engaged in a probate dispute that is starting to develop its own dramatic plot line.The story of the Clancy family pits...
Trust litigation over Los Angeles Clippers sale heats up
Our readers from the Twin Cities area who follow the Minnesota Timberwolves, or are just all-around fans of NBA basketball, have probably heard about the ongoing saga of Donald Sterling. Recently, the NBA prohibited Sterling from maintaining ownership of his team, the...
Trust litigation ensues for Minnesota family
Minnesota residents generally want to ensure that their families are happy and taken care of. This holds true even after a person passes away. People don't want to leave their families with a burden or a massive legal headache. In order to avoid these issues, people...
Mother of twin heiresses reportedly dodging questions over trust
When Minnesota residents set up a trust, they appoint a trustee to be in charge of the principal assets to provide for the beneficiaries. The trustee has a fiduciary duty to the trust, to ensure that it is financially solvent, so that it can provide for the...
When beneficiaries want to benefit others
Trust-fund beneficiaries have a bad reputation in some ways. Adults are sometimes ridiculed as trust-fund babies and college students from wealthy families are labeled trustafarians. Certainly, there are those who inherit wealth and don't seem to do anything with it...
Epic trust litigation in estate of supplement company founder
Twin Cities readers may be familiar with the Herbalife company as much for its controversial multilevel marketing operations as for its broad claims of benefits in weight management and personal nutrition. However, to at least one attorney previously involved in trust...
Theater fights for share of founder’s inheritance
Twin Cities stage show buffs may know that many community theaters rely on contributions beyond ticket sales to keep the curtains open. Following the death of its founder and primary benefactor, one community theater finds itself pursuing trust litigation as a matter...
Land sale may mark the end of nation’s oldest trust
Twin Cities readers may recall a story from earlier this year involving the administration of a colonial-era trust and the surrounding controversy that divided a historical seaside town. The recent sale of the trust's assets may be the final act that permanently...
Gambling granny raids grandson’s college trust
Readers in Minneapolis and St. Paul may have tuned in to our previous discussions about the risks of financial exploitation of vulnerable adults, but a recent case involving a gambling grandmother turns the tables on the usual roles of exploiter versus exploited....