If you have overheard any estate planning discussions, you have likely heard the words “guardian” or “trustee.” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important decision that requires consideration of many factors. Although there is no substitute for you […]

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If you have a revocable living trust, you probably named yourself as the initial trustee so that you can continue to manage your financial affairs. However, someone else will eventually need to step in to administer your trust when you are no longer able to act due to incapacity (the inability to manage your affairs), […]

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Probate is required when a person passes and leaves behind assets that are solely in their name. A probate case, overseen by the court, is the process designed to validate the deceased person’s will if one exists, pay off any outstanding debts and taxes, and distribute the remaining assets to the rightful heirs or beneficiaries. […]

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If a friend or family member has asked you to serve as trustee for their trust upon their death, you should feel honored—this means they consider you among the most honest, reliable, and responsible people they know. However, being a trustee is not only a great honor, but also a major responsibility. The job can […]

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When creating a trust, you likely have a specific goal in mind. How the trust accomplishes that goal depends on the terms that you put in place. Those terms define how the money can be used. For instance, some people who have trusts in their name want to use them to buy homes. They may use […]

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As a newly divorced mother, you probably have a lot on your mind. For example, you have to figure out how to provide everything your children need on just the income you currently have and the child support you receive. Many divorced parents only realize after the end of their marriage that child support typically […]

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Are you thinking of using an incentive trust to give your heirs motivation as you pass your assets on to them? One of the most common ways that parents use an incentive trust is by specifying yearly payouts that are tied to employment. For instance, the child could get $10,000 per year from the trust […]

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For some people, the word “trust” conjures up images of spoiled college-age children living off the largesse of their families. However, trusts are not solely the domain of the incredibly wealthy and elite. Instead, trusts are wonderful estate planning tools for Americans of all incomes. The creation of a trust gives you more control over […]

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It has become common knowledge that disability rates have steadily risen among children, which makes the need to understand the importance of a Special Needs Trust (SNT) even more significant. Defined, a SNT Protects the rights of the disabled individual to maintain their eligibility for public assistance benefits. If you left your disabled beneficiary money […]

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Determining the best type of trust for your unique situation can be challenging if you do not understand all of your options. Different kinds of trusts serve different purposes and are appropriate under different circumstances. However, living trusts are a common kind of trust that people in a variety of situations can benefit from. A […]

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