There are many reasons why it’s a good idea to set up a trust as part of your estate planning process. For most people, it can result in great benefits which include avoiding having to navigate probate and making sure your beneficiaries receive what you intended for...
Trusts are created for all kinds of reasons, and their grantors sometimes have very specific ideas about what makes someone worthy to benefit from those assets. This is where incentive trusts come into play. Incentive trusts are designed to exert a bit of “dead-hand...
Wills are one of the most straightforward and transparent estate planning tools. They spell out what assets the deceased left and how they wanted them to be distributed. If you see someone getting something you thought you would inherit, you may be able to file a...
A trust has to be managed by someone, so the people who fund a trust do their best to pick the best person or entity for the job – and it’s a big job. There are lots of decisions that have to be made, including when, where and how to invest those funds so that the...
The trustee overseeing a trust has a significant influence on the lives of others. They have to manage the assets in the trust. A trustee may need to physically secure and maintain assets like real estate, or they may need to make investment decisions about financial...
A trust contest can jeopardize your last wishes, deplete your estate and create a lasting rift in your family. Strange things happen – or rather, people act strangely – when money is at stake. A trust content can divide a family for generations. Besides, the cost of...
An irrevocable trust is forever, right? Well, not necessarily. When a trust no longer seems to serve the purposes for which it was intended or the laws have changed in ways that no longer work well with the terms of the trust, an old trust can sometimes be “decanted”...
When you’re developing your estate plan, choosing an executor to manage your estate and trustees to manage your trusts after you’re gone are among the most important decisions you’ll make. If you’re a family member or other beneficiary of a will or trust, you’ll have...
A fiduciary assumes the duty of acting in the best interests of another person. But this responsibility is violated when the fiduciary acts solely in their own interest. This self-dealing can lead to trust contests and other estate lawsuits. Self-dealing explained...
Many people set up revocable living trusts to provide themselves with an opportunity to control the fate of their properties and to help their loved ones avoid probate upon their death. Assets that may go into the name of the trust include homes, accounts and even...
