Trust Disputes and Fiduciary Litigation
Salichs Pou & Associates has experience in assisting families with the resolution of their disputes, whether they stem from an ambiguous will, a disappointed heir, a misdeed by a fiduciary, controversy over property rights, or tax disputes. We offer our unique experience in assisting clients with litigation involving fiduciary issues, and we are not restrained from handling unusual or difficult cases.
Puerto Rico is a civil law jurisdiction. The regulations regarding wills differs from the United States mainland in that Puerto Rico has forced heirship rules. If you are domiciled in Puerto Rico, you do not have much discretion on how, or to whom, most of your estate will be distributed upon your death. In the absence of a will, if you have children, they are entitled to all of your estate; and if married, the surviving is only entitled to the widow's right of dower (i.e., a life interest or usufruct over a portion of the estate) and 50% of the "community property assets," if any. The Puerto Rico inheritance statutes apply to real property owned by non Puerto Rico residents. We draft last wills & testaments, trusts, durable powers of attorneys and living wills.
Our team of professionals is experienced with probate matters and can guide your family through these court processes. In the event of a death or incapacitating event, our probate & trust attorneys provide assistance to individuals appointed to handle a decedent's or incapacitated person's estate. This includes preparing and filing necessary documents with the court, assisting the personal representative of the decedent's estate and other estate fiduciaries to re-title assets, pay valid claims, manage and sell assets, distribute assets to beneficiaries, prepare accountings and assist with tax-related matters. Our probate and guardianship attorneys have broad experience in many areas of the law, including real estate, trust administration, banking, corporate and business law in order to meet all of your estate administration needs. Our probate and guardianship attorneys also represent you, if necessary, through will and trust contests and estate litigation.
Specialized Estate Planning for Disabled Beneficiary: Trust
A testamentary trust is a trust that is provided for in a will and takes effect after the death of the person that makes the will. A discretionary trust is a trust created in a will or before death. In either a testamentary or discretionary trust the beneficiary does not have control over the money or assets in the trust. A trustee or trustees are appointed to look after the money and the trustees make all of the spending decisions. The trustees can be family members, friends, professional advisors or corporate trustees.
A trust for a disabled beneficiary in a will allow for the assets to be managed on the beneficiary’s behalf by a trustee of your choosing, it will also reduce the likelihood that the disabled beneficiary will lose access to government services or benefits. Because the beneficiary of a trust has no right to demand any of the income or capital of the trust, the person is not considered to own any of the trust property or to be entitled to any of the trust income.
Only the amounts actually distributed out of such trust to a disabled person will be included in the disabled person’s assets and income in determining whether the disabled person is entitled to government services and benefits. There is no limit to the amount of money that can be held inside a trust.