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Archive for Category: Trusts

The Wrong Successor Trustee Can Derail Your Final Wishes

Many estate plans contain revocable living trusts that will become irrevocable (cannot be easily changed or terminated) when the grantor dies. Such trusts may benefit

Why Reviewing Your Trust Regularly Isn’t Optional—It’s Essential

Many people believe that once they’ve created a trust, they can simply file it away and forget about it. But just like your health needs

Asset Protection Tips You Can Use Now

A common misconception is that only wealthy individuals and people in high-risk professions, such as doctors or lawyers, need an asset protection plan. However, anyone

The Trust Protection Myth: Your Revocable Trust Protects Against Lawsuits

Many people believe that once they set up a revocable living trust and change the ownership of their accounts and property from themselves as individuals

Enriching Life with a Third-Party Special Needs Trust

A special needs trust (SNT) allows an individual to provide for a disabled beneficiary without jeopardizing the beneficiary’s eligibility for needs-based government benefits. SNT funds

Should Your Child’s Guardian and Trustee Be the Same Person?

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

What Exactly is a Successor Trustee and Who Should Be Yours?

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.

When Is Probate Required?

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

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations

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

The Terms of a Trust Specify How the Money Can Be Used

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

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