Generation-Skipping Trust

Generation-Skipping Trust Updated: February 2, 2024 A generation-skipping trust (GST) is a type of irrevocable bypass trust for assets to be subsequently passed on to your grandchildren while avoiding or skipping estate taxes during your children’s generation. They can be a living or testamentary trust. GSTs are much more complicated than they seem and you will likely need a professional to create one. […]

Trusts for Married Couples

Trusts for Married Couples Updated: February 2, 2024 Trust Vs Will Marital Trusts Qualified Terminable Interest Property Trust Dividing Trusts Dual Trusts Totten Trust Spousal Lifetime Access Trust When considering marital trusts as part of their estate plan the first decision married couples need to make is whether or not a trust is necessary. The […]

Testamentary Trusts

Testamentary Trusts Updated: January 26, 2024 Standard Testamentary Trust Other Types of Testamentary Trusts Steps to Get Ready to Create a Testamentary Trust Creating a Testamentary Trust Adding Assets to a Testamentary Trust A testamentary trust (a.k.a. will trust) is a type of trust that, like a will, is created to transfer your assets to […]

The Living Trust

The Living Trust Updated: January 25, 2024 Family Trust Irrevocable Living Trust Revocable Living Trusts Income Trusts Steps to Get Ready to Create a Living Trust Creating a Living Trust Transferring Assets to a Living Trust A living trust is created while you’re alive. They are sometimes called family trusts. Living trusts can be revocable […]

Trustees

Trustees Updated: January 22, 2024 Who to Choose Duties of a Trustee Compensating Your Trustee The trustee will be the owner or holder of legal title of your trust property and the manager of the trust an required to perform their responsibilities in good faith (a legal concept known as fiduciary duty). They are responsible for all […]

Trust vs. Will

Trust vs. Will Updated: January 22, 2024 Both trusts and wills (Last Will and Testament) are estate planning techniques which can be used alone or together to pass on your assets to your beneficiaries. To determine whether a trust is preferable to a will for passing along your estate it is helpful to be aware […]

Trusts

Trusts A trust is another way to leave your estate to your beneficiaries. A trust is a fiduciary (financial) relationship in which you, as the trustmaker or creator (called the “grantor” or “settlor“), give a trustee, who could be you or another person, the right to hold title to and manage your property or assets […]

Digital Estates

Digital Estates Updated: October 9, 2023 Making Online Assets Available Data Privacy Laws Criminal Unauthorized Access Laws If you think about how hard it is for you to keep track of all of your digital information, including everything found on your cloud account and other websites, electronic devices, thumb drives, and external hard drives, imagine […]

Crucial Estate Planning Steps

Crucial Estate Planning Steps Updated: October 6, 2023 Know All Your Options Make Decisions Carefully Change with the Times Communication is Important If your estate plan is not done properly, there may be consequences that can’t be corrected or easily fixed. Aside from not having an estate plan at all, there are many other basic […]

Unnecessary End-of-life Care

Unnecessary End-of-life Care Updated: August 9, 2023 Having spent all that time, effort, and money to assure your heirs receive as much of your estate as the law will allow, there is another matter to consider, limiting the cost of your care. Although not a top priority toward the end of your life, it may […]