Preparing for AI in Your Will
Grief technology, the use of images and voices after a person’s death, is already an existing thing, with Seance AI programs to communicate with grandchildren.
Call us Anytime
Laurel, MD 20707
Downs Law Firm, P.C.
Home • Living Trust • Trustee
Grief technology, the use of images and voices after a person’s death, is already an existing thing, with Seance AI programs to communicate with grandchildren.
A badly in debt woman dies leaving the proceeds of substantial insurance policies to her children only to have her trust contested by relatives who claim an amendment naming the children as beneficiaries is invalid with no witnesses, misspelled names, suspicious signatures and was never given to previous trustees for review as required by agreement. A long, expensive, and protracted legal battle likely is brewing.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
When you hear the word trust fund, you might think of wealthy kids a big chunk of cash on their 25th birthday. However, trust funds aren’t just for the rich. They are flexible tools to protect your loved ones.
How can we see if there was a will and if it’s worth pursuing?
The most common question faced by special needs parents and caregivers is, ‘What will happen if I am not here?’
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income rather than the trust itself paying the tax. However, such beneficiaries are not subject to taxes on distributions from the trust’s principal.
The fact is people’s names often change. People get married and divorced, or sometimes they just legally change their names.
Do not put off finalizing and signing your estate planning documents just because you have reached an impasse on who to name as trustee.