Trusts Make Sense Even When You Aren’t a Billionaire
Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.
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.
How Important Is Avoiding Probate?
Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.
Different Trusts for Different Estate Planning Purposes
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Use A Dynasty Trust to Protect Your Wealth
Movie scenes where a deceased tycoon’s will is read to a roomful of shocked and bitter relatives make for great drama, but drama is the last thing anyone wants, when seeking to preserve an estate for future generations.