What’s a Pot Trust?
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Where Do You Score on Estate Planning Checklist?
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Estate Planning for Special Needs Children
It takes a special parent to care for a child with special needs. These parents’ greatest financial concern is typically ensuring that their children are cared for when they can no longer do so.
How Do I Stop Heirs from Foolishly Wasting Inheritance?
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
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.
If I Buy a House, Should I have an Estate Plan?
Buying a home is one of the most common triggers for creating an estate plan.
Should a Trust Be a Component of My Estate Planning?
Do I need a trust in case something happens to me?
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.
What Exactly Is a Trust?
A trust is a legal vehicle that allows a third party, a trustee, to hold and direct assets in a trust fund on behalf of a beneficiary. A trust greatly expands your options when it comes to managing your assets, whether you’re trying to shield your wealth from taxes or pass it on to your children.