Have you heard about trust decanting and wonder what it means? A trust is a legal document that you can set up to give assets to someone else. Trusts can…
Have you ever consulted a Trusts and Estate lawyer to discuss your estate? According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate…
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding one to your estate plan. What Is a Testamentary Trust? A testamentary trust allows…
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death. When you make a Totten trust,…
An intentionally defective grantor trust (IDGT) is a common estate planning tool that is used by wealthy families to transfer assets from one generation to the next while achieving significant…
As a trust beneficiary, you may feel that you are at the mercy of the trustee, but depending on the type of trust, beneficiaries may have rights to ensure the trust…
With incentive trusts, parents and grandparents can ensure that the assets they leave to the next generation will be protected and spent wisely. Many parents or grandparents with sizable amounts…
Serving as a trustee of a trust can be a huge responsibility, so trustees are entitled to compensation for their work. The amount of compensation depends on the type of…
Being asked to serve as the trustee of the trust of a family member is a great honor. It means that the family member trusts your judgment and is willing…
Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan…
