What The Michael Jackson Law Suit Reminds You About Your Estate Planning

This brief story about the settlement of a lawsuit against the estate of Michael Jackson points out the need for comprehensive powers in powers of attorney, wills, and trusts allowing the fiduciaries (executors, trustees, and agents) to bring and to settle lawsuits, claims and litigation with or without court approval.  Is the powers clause of your will, trust, or power of attorney good enough or do you need to review that clause?

A well drafted powers clause will allow executors and trustees to do certain things without seeking court approval and may require court approval for other actions.

However, whenever you have trusted executors and trustees it is important to consider giving them the powers that they will need to act without constantly seeking Orphan's Court approval of business and related decisions.

David M. Frees III, Esquire

David is Chairman of the Trust, Estate and Wealth Preservation Section of
Unruh, Turner, Burke and Frees.

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He helps clients to draft wills, trusts, powers of attorney, and related estate
planning documents that carry out their desires with minimal costs, expenses,
and minimal family conflict and court intervention whenever possible.