Learn About Trusts and Living Wills
A trust is a type a specific legal entity which facilitates the transfer of assets, either cash or real property, to specific individuals or organizations. Trusts consists of the following parties which are the Trustor, Trustee, Trust Property, Trus...
A living trust will functions primarily as a holding place for assets to be transferred into which then become immediately available to a designated beneficiary. Instead of having multiple accounts in multiple locations all with similar or dissimila...
A living trust holds and protects your assets while you're alive and passes them on to your designated heirs when you die. A living will makes your wishes regarding life prolonging medical procedures known to your family and health care providers. Bo...
Sending your kids to college is expensive, and it's going to be more expensive by the time your kids are old enough to go. One way to prepare for that expense is to start putting money away for them now while they're still young. Setting up a college...
The good news about an irrevocable trust is that you can't change it. That's also the bad news. An irrevocable trust is set up to hold specific assets of its creator, or grantor, to avoid costly court probate settlements and reduce taxes. A trustee c...
If you or a family member has assets that you want to keep in the family and you'd like to avoid death taxes and claims against the estate, a family trust can be the ideal way to set things up. Trusts come in two main forms, revocable and irrevocable...
A life insurance trust is set up to alleviate the heirs of an estate from the taxes imposed on the estate, after the death of its owner. With a life insurance policy, the estate will be taxed heavily after the death of the insured. But with a life in...
A discretionary trust is a tool that is used to provide the trustee some discretion to handle the trust how they deem appropriate. One of the first thing that you should do when setting up a discretionary trust is select your trustee. With this type ...