- What Is a Property Trust and Who Needs One?
Trusts are useful financial tools, often used for the purpose of planning an estate. A trust is essentially a legal framework into which ownership of assets can be placed. These assets can include financial products like stocks and bonds, or it can include real physical property, like land, jewelry or vehicles. There are a number… read more…
- How Does a Pot Trust Work?
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… read more…
- Trustor vs. Trustee: What’s the Difference?
Trusts are a useful tool for financial and estate planning, allowing a family to set assets aside to be passed on when someone dies. They can also help your family potentially avoid the headaches of the probate process. Some of the language around trusts, though, can be confusing to those who aren’t completely fluent in… read more…
- How Does a Credit Shelter Trust Work?
A credit shelter trust is used to help married couples with significant assets pass their estates after their deaths to children or other beneficiaries without incurring estate taxes. Credit shelter trusts are also useful for avoiding probate, shielding assets from creditors and ensuring the wishes of a deceased spouse are carried out. While they are… read more…
- What Is a Business Trust and How Does It Work? – Definition
When it comes to trusts, most people are familiar with individual trusts, trust funds or family trusts that are connected to an individual or family. But another type of trust exists for entrepreneurs and companies called business trusts, which are… read more…
- Trust vs. LLC: What’s the Difference?
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to protect assets. Both are also created at the state level but they have different features and different uses. Trusts are primarily used to avoid taxation… read more…
- Irrevocable Trust vs. Will: What’s the Difference?
Two of the possible ways for people making arrangements for the disposition of their assets after their death are wills and irrevocable trusts. Each one has unique strengths. Here’s how the two compare and contrast so you can determine if… read more…
- Revocable Trust vs. Will: What’s the Difference?
Estate planning is an important step in taking care of what matters most, your loved ones and the life you’ve worked hard for. Two of the options are a revocable trust and a will. But which one is the best… read more…
- In Trust For vs. Payable On Death: What’s the Difference?
When shaping an estate plan, one of the most important steps is deciding who has access to your assets. Specifically, that means who inherits bank accounts and other financial accounts when you pass away. In trust for vs. payable on… read more…
- Simple Trusts vs. Complex Trusts
A trust can be a useful estate planning tool, in addition to a will. You can use a trust to remove assets from probate, potentially minimize estate and gift taxes and ensure that assets are managed on behalf of beneficiaries… read more…
- How Much Does It Cost to Set Up a Trust?
A living trust is an estate planning vehicle that protects your assets against taxes and probate after you die. There are multiple types of trusts, like marital, bypass, generation-skipping and more. You can generally assign beneficiaries and make adjustments, unless your… read more…
- What Is a Grantor Retained Income Trust (GRIT)?
Trusts can be useful in estate planning for passing on assets to your heirs. A grantor retained income trust (GRIT) is a specific type of trust that allows you to transfer assets while still benefiting from the income they generate.… read more…
- How to Create a Living Trust in Wyoming
Estate planning can be a complex process, and relying on a will can put your heirs through the time and expense of probate court. A living trust can help simplify things. This arrangement can hold your assets and property in a… read more…
- How to Create a Living Trust in Rhode Island
A living trust is a viable estate planning tool for Rhode Island residents. Since they allow your families and loved ones to skip the time-consuming and expensive process of proving a will, creating one is a good idea for those with complicated… read more…
- How to Create a Living Trust in North Dakota
No matter where you live, it’s important to have a strong estate plan in place. One popular estate planning tool is a living trust, which offers a secure way to store your assets and property so that they can be easily… read more…
- How to Create a Living Trust in Maine
If you are considering an estate plan, there are many paths you can take. One way to protect assets for your family is to create a living trust. Probate and inheritance laws vary from state to state, which means that the… read more…
- How to Create a Living Trust in West Virginia
When planning your estate, you have different tools at your disposal to protect your assets for your loved ones. One such tool is a living trust, which many estate-planning experts consider to be a more iron-clad strategy than writing a will.… read more…
- How to Create a Living Trust in New Hampshire
If you’re thinking about your estate planning strategy, odds are you’ve heard about creating a living trust. A living trust can protect your assets and make life easier for your heirs. Residents of New Hampshire may particularly benefit from using a… read more…
- How to Create a Living Trust in Connecticut
As you approach the estate planning process, you have many tools at your disposal. One such tool is a living trust. By creating a living trust, you can protect your assets and property and save your family from having to go through… read more…
- How to Create a Living Trust in South Dakota
A living trust can be a powerful tool for building a comprehensive estate plan and ensuring your assets are managed and distributed according to your wishes. Since estate and inheritance laws vary by state, it’s important to understand the specific rules that apply in South Dakota. We’ll give an overview of how to create a… read more…
- How to Create a Living Trust in Pennsylvania
Estate planning gives you the opportunity to protect your assets and control how they’re handled after you pass, or if you become incapacitated. Once any outstanding debts and taxes are addressed, your remaining property can be passed on to family members, friends or charitable causes according to your wishes. One of the most common tools… read more…
- How to Create a Living Trust in Kansas
Estate planning is one of the best ways to ensure your assets are protected after you’ve died. You’ll have a range of options for legally distributing your assets following death or incapacitation, but one of the ways to do so… read more…
- How (and Why) to Use a Spendthrift Trust
Leaving money behind for an heir can be nerve-racking, especially if they’re new to managing money or have trouble controlling their spending. An estate planning tool that can help you in this situation is a spendthrift trust, which affords a trustee… read more…
- How to Create a Living Trust in Alaska
Estate planning is the part of financial planning that allows you to protect your assets after your death. You’ll have access to a range of options to ensure your assets are legally distributed to your desired heirs, but one of… read more…
- How to Create a Living Trust in Utah
If you’re working on your estate plans, you may come across living trusts as a way to protect your assets so you can safely leave them for family and friends. The primary benefit of using a living trust instead of a will is that it can allow you to bypass the probate process. As probate… read more…