A hypothetical mediation scenario. A lawsuit arises from damages caused by a fire to a building. Soon after the fire one of the eventually named defendants dies due to natural causes – thus, that defendant and his estate and revocable trust were named as parties. A side note: pursuing claims against a decedent’s estate and trust are complicated areas of law and procedure – there are pitfalls to avoid and deadlines and procedures that must be met – these are complicated areas.
In any event, one of the attorneys asserts that the assets held in the decedent’s revocable trust are not subject to the claims of the decedent’s creditors. Counsel also asserts that decedent’s assets in his revocable trust could not be reached by creditors because the trust became irrevocable upon decedent’s death, and the trust also has a spendthrift clause. The assertions are incorrect. But the mediation is suspended. This would lead me to two comments: (1) present those types of assertions sufficiently before the mediation so that they are fully vetted before the mediation; and (2) it is counterproductive to make significant assertions that cannot then be verified or supported.
Regards, David Tate
Thank you for reading. Please do pass this blog and blog post and information to other people who would be interested as it is only through collaboration and sharing that great things and success are more quickly achieved.
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Best to you,
David Tate, Esq. (and inactive CPA)
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Remember, every case and situation is different. It is important to obtain and evaluate all of the evidence that is available, and to apply that evidence to the applicable standards and laws. You do need to consult with an attorney and other professionals about your particular situation. This post is not a solicitation for legal or other services inside of or outside of California, and, of course, this post only is a summary of information that changes from time to time, and does not apply to any particular situation or to your specific situation. So . . . you cannot rely on this post for your situation or as legal or other professional advice or representation, or as or for my opinions and views on the subject matter.
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David Tate, Esq. (and inactive California CPA) – practicing only as an attorney in California.