Understanding our Joint Blog and Co-Host Podcasting Format
As we thought about our Blog this weekend, it struck us that perhaps we haven't been entirely clear on how we hope to send out our own unique form of social media. Presently, our plan is to produce our 2 Podcasts weekly and we are going to try to Blog on a daily basis.
Unlike many current Blogs, there are 2 of us who are primarily going to be Podcasting and Blogging. Ian and I intend to jointly Blog, recognizing that it is "outside of the box" a bit because, right now, most Blog on their own. However, given the fact that we are working so closely on the Podcasts together, we thought a joint Blog format would make sense in the circumstances.
As to the format of the Blog itself, we are going to try each day to provide a quick comment relating to the social media world, together with a note on a legal issue that catches our attention.
As to the social media comment, Ian has now signed up for an upcoming conference called "Podcasters Across Borders", a Podcaster conference being help in Kingston on June 23 and 24. It looks like a fantastic event and we are sure it will enhance our own Podcasting.
As for the legal note, we are currently working on an intensive review of the whole concept of testamentary capacity. Our "Hull on Estates" Podcast for April 25, 2006 (Episode 5) addressed the following legal issues:
· constructive trusts;
· specific devises and bequests;
· life insurance;
· the description of beneficiaries;
· trusts/life interests;
· the selection and powers of trustees, including the power to encroach; and
· ademption.
In our fifth Podcast, we began a general review of the concept of constructive trusts and discussed the fact that registration of an asset in one's name alone is not sufficient to prevent a claim against that asset by someone else, who may claim a trust or beneficial interest in that asset.We also talked about specific devises and bequests and the necessity, when obtaining information for the preparation of a Will, that you have your client provide an accurate description of any property that is to be given specifically to a beneficiary. We went on to review the importance of life insurance and the unique characteristics it brings to the estate planning process, as well as the need to properly describe beneficiaries in Will documents.
We then went on to review the importance of trusts, including spousal trusts and life interests that are created in a Will, and their role in the estate planning process. We talked briefly about the selection and powers of trustees, including the power to encroach and essentially spend the capital of the estate during the life tenant's lifetime. The legal concept of ademption was reviewed and, again, first principles were considered by going to the Black's Law Dictionary and reminding listeners that ademption is defined there as "the extinction or withdrawal of a legacy by a testator's act, equivalent to revocation or indicating intention to revoke". For example, when one gives a gift of a specific item in a Will and that item is gone at death, it is said to have "adeemed".
During our "Hull on Estate and Succession Planning" Podcast for April 25, 2006 (Episode 5), we continued our discussion on ways to "bullet-proof" a Will: · by properly documenting any gifts you make during your lifetime; · by carefully considering unequal treatment of beneficiaries; · by will drafting - losing a gift if you challenge the Will; · by contracts not to contest a Will; and · by avoiding making casual "will-like" dispositions.
That is it for now, all the best! Suzana and Ian. --------
