When reading about trusts, it makes sense to replace “trust” with “rulebook.” The trustee of a rulebook is the manager of assets that have been made subject to the rules in the trust. The owner of the assets subject to the rules in the trust is called the beneficiary. Trusts can have multiple beneficiaries or successor beneficiaries. For most trusts, there is no rule that the trustee and beneficiary must be different people.
Monthly Archives: April 2019
Legal-Ease: Giving our lives one good deed at a time
Some people may avoid helping others with the concern that they may make the situation worse. For this reason, the law often includes “good Samaritan” protections to people who are trying to help others. Ohio law is general and comprehensive when it comes to help during emergencies and disasters.
Legal-Ease: How far can I stretch my liability protection?
Sometimes we wonder how far something can legally be stretched. When forming an LLC, some may wonder if there’s any way to protect assets from being used to satisfy legal responsibilities related to an accident or misdeed.
Legal protections, like a tape measure, include limits on how far they can be stretched.
Legal-Ease: Plan and prepare, but don’t overdo it
While it’s difficult to warn against overpreparing, the issue with super-detailed planning is that any slight change in the situation can make the plan obsolete. The need to plan for our future should be balanced with the recognition that the future will be different from the present.
Legal-Ease: Hire the right professional from the start
When someone is hired to do a job that they’re not qualified to perform, the result can be disappointing. There can be recovery, though, in many instances in which shoddy goods or services were provided.
Hiring the right professional from the start will ultimately save both time and money rather than getting stuck with cleaning up the mess from a poorly done job.