Joint trusts offer clients many benefits both during life and after death. Those with joint trusts need to understand the limitations inherent in the trust and the importance of seeking qualified counsel upon the death of the first spouse to ensure that the trust administration runs smoothly. A recent Michigan case highlights what happens when the surviving spouse fails to do that or simply ignores the terms of the trust altogether. Read on to learn more.
Cornelius (“Neil”) J. O’Reilly is an attorney whose practice is focused in the areas of Estate Planning, Estate Administration, and Business Succession Planning. His main goal is to demystify Estate Planning for his clients so they can gain peace of mind knowing that they have provided for their families by passing along their hard-earned wealth and by minimizing the stress they will experience if the client becomes incapacitated or dies. He has created the firm with the belief that an estate plan should be driven by the unique needs and desires of each unique client. That’s why there are no “cookie cutter” plans or canned solutions offered to any client. Instead, Neil helps clients identify their goals and then builds estate plans based on those goals.
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