A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” Trusts fall into two basic categories: testamentary and inter vivos. A testamentary trust is one created by your will, and it…

Being a trustee is a big responsibility and if you don’t perform your duties properly, you could be personally liable. That’s why it’s important to hire the right people to guide you in this important role. A trust is a legal arrangement through which one person (or an institution, such as a bank or law…

Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two. Both are useful estate planning devices that serve different purposes, and both can work together to create a complete estate plan. One main difference between a will and a trust is that a will goes into effect only…

A revocable living trust (RLT), which is a commonly used estate planning solution, allows for the alteration of the trust should need arise. It is distinguishable from the irrevocable living trust which cannot be easily altered. But what exactly are RLTs, who is affected by them, how can they be changed, and what do they…

Trust protectors — long popular in offshore trusts set up by high rollers — are growing more common in trusts established here in the U.S. by less affluent folks. A trust protector is someone who is appointed to watch over a trust that will be in effect for a long time and ensure that it…

Beezer the cat can be a member of the family, but what happens to Beezer or [insert your pet’s name] after you are gone? How can you ensure your pet will be cared for? One option is to create a pet trust. While you can give directions in your will to leave your pet to…

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