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Trust Modification and Termination

Modification

A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor. In such instances, the directive will be struck in order to accomplish the...

Medicaid Trusts

Medicaid is a needs-based (welfare) benefit program administered separately by each state, but funded in part by the federal government and in part by each state. A person qualifying for Medicaid is allowed to have only a minimal amount of...

Trusts, Public and Private - II

Trusts, Public and Private - II

An express trust is either public or private. A public trust, also known as a charitable trust, is an express trust created for a charitable purpose. If an express...

What is a Will?

What is a Will?

A simple definition of a will can be found in a paralegal textbook, Edward A. Nolfi's Basic Wills, Trusts, and Estates (Glencoe/McGraw-Hill 1995). Mr. Nolfi writes that: "A will...

Co-Ownership Myths - III

Co-Ownership Myths - III

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a...