What Is the Main Purpose of a Trust?
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
How Do Special Needs Trusts Work?
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
What are Responsibilities of Trustees and Executors?
A trustee is a fiduciary which, essentially, is a person that owes a legal, ethical and, perhaps, moral obligation to act in the interest of another.
Do You Need a Revocable Trust or Irrevocable Trust?
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
Does a Beneficiary on a Bank Account Override a Will?
Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.
Common Mistakes when Making Beneficiary Designations
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.
How Do Special Needs Trusts Work?
Just as you have trust in a relationship, trusting your document and those with responsibilities in the trust are crucial to obtaining your objectives.
Can You Distribute Unequal Amounts in an Estate Plan?
For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.
Consider Funding a Trust with Life Insurance
Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.
What are the Responsibilities of a Trustee?
A trustee is a manager of assets in a trust. The grantor creates the trust and appoints the trustee. A trustee has a ‘fiduciary duty’ to serve the grantor and not benefit personally.