- How to Protect Trust Assets From a Beneficiary’s Divorce
Trusts can be a useful estate planning tool for passing on wealth to heirs. When naming beneficiaries, it’s important to consider how their spouses may fit into the picture. Specifically, you may wonder how to protect trust assets from a… read more…
- Does a Revocable Trust Protect Assets From a Nursing Home?
Many retirees go to nursing homes as their needs increase, creating a dilemma for protecting their wealth. A revocable trust places your wealth in a tax-protected vehicle you can control until you die. But, unfortunately, it won’t protect assets from… read more…
- Domestic Asset Protection Trusts: Estate Planning
There are a lot of aspects of estate planning that can make it feel daunting. To protect your beneficiaries from creditors, you should consider establishing a domestic asset protection trust or DAPT. Here define DAPTs, talk about how they work… read more…
- How Much Does It Cost to Remove a Trustee?
A trustee is responsible for managing the assets held in the trust on behalf of its beneficiaries. If you’re the beneficiary of a trust, you may find it necessary to remove the trustee if you believe that they’ve committed a breach… read more…
- Can a Trustee Remove a Beneficiary From a Trust?
Creating a trust as part of your estate plan is something you might consider if you’d like to ensure that your assets will be managed according to your wishes after you’re gone. When you establish a trust, you’ll need to… read more…
- Power of Appointment for a Trust or Will
Establishing a trust or will is vital to a well-designed estate plan; you might even use both. However, even the best estate plans can’t anticipate changes in the future or head off new tax legislation. Fortunately, a power of appointment… read more…
- Beneficiary vs. Trustee: Estate Planning Guide
Establishing a trust as part of your financial plan is something you might consider if you have extensive assets or simply want a measure of control over how those assets are managed after you’re gone. When creating a trust, there… read more…
- What Does “FBO in Trust” Mean?
FBO is an abbreviation for the common term “for the benefit of” and it is often used in estate planning. In a trust, the term conveys ownership and value to the trustee. The FBO legal language is there to protect… read more…
- What Is a Declaration of Trust?
A declaration of trust is the document that establishes a legal trust. It also defines the major elements of the entity, such as the beneficiaries and trustees. Once a trust has been established, a declaration of trust can also be… read more…
- Pros and Cons of Revocable Living Trust
A revocable living trust can help you protect privacy, avoid probate and protects you in case of incapacitation. But you will also have some limitations. That’s because revocable living trusts can be expensive, and they don’t have direct tax benefits.… read more…
- How to Transfer Property into a Trust
If a trust is part of your estate plan, your assets will need to be transferred into it at some point. Most of the time, this is a fairly simple process that requires nothing more than listing the assets as… read more…
- Are Trusts Valid From State to State?
If you include a revocable living trust as part of your estate and then decide to relocate to another state, your trust should remain valid. And although its validity won’t be affected, differing state laws regarding such matters as marital… read more…
- Do You Need a Living Trust Lawyer?
If you plan to create a living trust or already have one, you may wonder if you need a living trust lawyer. The short answer is that you don’t. But just because you don’t technically need an attorney to put… read more…
- How to Put Your Home in a Trust
If you have a residence you would like to pass onto loved ones after your death, and you’re worried about your home going into probate, you may want to put your home in a property trust. If that is something… read more…
- How to Transfer Property Out of a Trust After Death
After a grantor passes away, becoming the trustee can be daunting, especially if you’re responsible for distributing property. Houses are among the most valuable assets in a family for financial and sentimental reasons. Therefore, it’s critical to understand how to… read more…
- Do Revocable Trusts Protect Assets From Creditors?
Revocable trusts, otherwise known as “living trusts,” do not protect your assets from creditors. In fact, they are subject to collections actions and lawsuits, and they are included when third parties evaluate your personal assets. We’ll discuss how it works.… read more…
- How a Medicaid Trust Protects Your Assets
A Medicaid asset protection trust (MAPT) can be useful for estate planning if you believe you or your spouse will need long-term care at some point. Transferring assets to this type of trust can allow you to qualify for Medicaid… read more…
- Inter-Vivos Trusts: How Do They Work?
An inter-vivos trust or living trust is a legal arrangement that allows a person to transfer ownership of assets to a trust while they are still alive. Inter-vivos trusts distribute property to beneficiaries when a person dies and helps an… read more…
- How to Dissolve a Trust in 3 Steps
If you want to end a trust, the process depends on the nature of the entity. A revocable trust can be ended relatively easily, in just three steps. The trust’s founder and owner can typically dissolve a revocable trust at… read more…
- How Long Can a Trust Remain Open After Death?
If you leave a trust to a loved one, it’s probably because you want to ensure that they are taken care of after you are gone. But that very act may cause you to wonder how long can a trust… read more…
- Trustee vs. Executor: What’s the Difference?
Estate planning can be difficult. In addition to the fact that it may bring up some uncomfortable feelings – like grappling with one’s mortality – there is also the fact that it can be a complex legal process. There are… read more…
- How a Non-Grantor Trust Works
One of the most useful estate planning tools is a trust, which can be used to create a legacy of wealth and protecting assets. One question to consider when creating one is whether a grantor or non grantor trust is… read more…
- Charitable Trust vs. Foundation: Key Differences
Charitable trusts and foundations can be used to both secure personal, family or business assets and enable philanthropic endeavors. Each one provides assets, such as securities, with protection from lawsuits and other claims. Trusts and foundations also can offer significant… read more…
- How Does a QTIP Trust Work?
Creating a trust as part of an estate plan can help protect assets and ensure your financial legacy is preserved. If you’re married, you may consider establishing a QTIP trust, which is short for qualified terminable interest property trust. This… read more…
- Certificate of Trust: Estate Planning
When trusts are used as estate planning tools, financial institutions such as banks and brokerages may require written documentation of the trust’s existence before transferring assets into a trust or naming it as a beneficiary. However, they don’t need to… read more…