A trust is only as powerful as the terms inside, and this is why careful attention to detail is a must when selecting an experienced estate planning attorney to help you with the structure of your trust. Given the inflexibility of many mandatory trusts, a discretionary trust empowers the trustee to use his or her […]
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Distribution of Trust Funds – Deciding When
As you know by now, when properly drafted and funded, revocable trusts are an amazing tool to avoid probate. However, probate avoidance is not the only benefit a trust offers. Once our clients understand the “how” behind funding their trust, their next greatest concern is typically, “when” do their beneficiaries receive their inheritance? Whether the […]
Funding Your Revocable Trust – Business Interests
You’ve heard the term “funding your trust” and we’ve discussed transferring your bank and investment accounts, as well as your real property. If you are a business owner, then this article is for you. Here, we take a look at business interests and the importance of having those interests placed in trust. Limited Liability Companies (“LLCs”) Like other assets, the […]
Funding Your Revocable Trust – Real Property
You’ve heard the term “funding your trust” and we’ve discussed transferring your bank and investment accounts you know that it’s important for purposes of avoiding probate, but what assets should you be putting in trust? This article takes a look at real property and a few common questions many individuals have when transferring real property into the name of […]
Funding Your Trust – Bank/Savings and other Accounts
You’ve heard the terms “funding your trust” and you know that it’s important for purposes of avoiding probate, but what assets should you be putting in trust? This article takes a look at bank/savings and other accounts and a few common questions many individuals have when transferring these accounts into the name of their trust. […]
Funding Your Trust & Why it’s Important
You’ve met with an experienced attorney and taken the next step in a successful estate plan by having your revocable trust drafted, finalized and signed. While you certainly deserve to take a sigh of relief, don’t stray too far from your preparedness mindset just yet. You may have sought after a trust specifically to avoid […]
Selecting a Successor Trustee
So, you’ve decided you need a Revocable Trust (also referred to as a Living Trust). Congratulations! You have just taken the first step towards successful estate planning. What’s next? One of the most important questions you’ll need to answer is who your Trustee will be. Typically, the grantor (you) of the trust chooses to be […]