Supreme Court of Nebraska Determines a Court's Power to Authorize a Conservator to Exercise an Incompetent Settlor's Reserved Rights to Amend or Revoke her Trust in In Re Guardianship and Conservatorship of Garcia, The
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Authors
Wooden, Cynthia J.
Issue Date
2003
Volume
36
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
INTRODUCTION|The number of people using trusts is growing at a rapid pace. Trusts are no longer tools utilized only by the wealthy and social elite. Large segments of the population with diverse goals use trusts. The trust's popularity as an estate planning device is rising for a number of reasons. Traditional reasons for that popularity includes probate avoidance, tax advantages, confidentiality, administrative expense savings, and protection against will contests. However, the likely reason for the recent escalation in the use of trusts is the prosperity and investment success of the 1990s. Simply put, more people have taxable estates and are turning to trusts to maximize their childrens' inheritance. Another reason for the trust's recent surge in popularity is the increase in life spans. People are living longer and they view the inter vivos trust as a superior mechanism through which they can protect and manage their assets in the event of mental or physical incapacity. Because trusts provide such an attractive solution for protecting estates upon incompetence or disability, many trusts are funded solely for that purpose...
Description
Citation
36 Creighton L. Rev. 47 (2002-2003)
Publisher
Creighton University School of Law