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Trusts

Setting Up a Trust and Selecting a Trustee

Categorized in:

Trusts, Executor and Trustee Responsibilities

A well-designed trust holds your most significant assets, protects them, and eventually transfers them to your loved ones. There are numerous types of trusts to fit various situations. You create the trust and fund it.

You may opt to act as the trustee during your lifetime. Or you can choose a third party, or trustee, to manage and administer your funds before and after death.

What Is Estate Planning?

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Trusts, Medical Directives, Financial Powers of Attorney, Disability and Special Needs, Wills, Planning for Minors

Estate planning is making a plan in advance, naming the people or organizations you want to receive the things you own after you die, and taking steps now to make carrying out your plan as easy as possible later.

What Are Charitable Remainder Trusts?

Categorized in:

Trusts, Charitable Giving

Learn how a charitable remainder trust allows you to secure lifetime income, save taxes, and benefit charities.

Understanding Living Trusts

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Trusts

Contrary to what you have probably heard, a will may not be the best plan for you and your family. That is primarily because a will does not avoid probate when you die.

Duties and Responsibilities of a Trustee in Estate Planning

Categorized in:

Trusts, Executor and Trustee Responsibilities

Learn about the duties and responsibilities of a trustee and what needs to be done at the grantor's incapacity and death.

Protect Against the Generation-Skipping Tax

Categorized in:

Trusts, Inheritance Planning

If some or all of your estate bypasses your children and goes directly to a grandchild, your estate could have to pay a tax called the generation-skipping transfer (GST) tax.

Who Should Be Your Successor Trustee?

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Trusts, Executor and Trustee Responsibilities

There are several options for who can be named as your successor trustee. Knowing the responsibilities of a successor trustee can help you make the best decision.

Funding a Living Trust

Categorized in:

Trusts, Retirement Accounts

Understand how to fund your living trust by learning why and how to transfer your assets to your revocable living trusts.

Understanding Corporate Trustees

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Trusts, Executor and Trustee Responsibilities

Understand corporate trustees and learn seven reasons why you should have a professional help you build, manage, and protect your wealth.

Same-Sex Couples: Three Estate Planning Steps to Take Now

Categorized in:

Trusts, Wills, Probate

The estate planning needs of same-sex couples are not much different from those of opposite-sex couples. Learn the three estate planning steps to take now.

Three Estate Planning Items Everyone Needs

Categorized in:

Trusts, Financial Powers of Attorney, Retirement Accounts, Wills

A basic estate plan is essential for everyone. At a minimum, everyone should have three estate planning items in place: an up-to-date will or trust, a durable power of attorney, and updated beneficiary forms.

Estate Planning Awareness Week: Does Your Plan Need a Checkup?

Categorized in:

Trusts, Medical Directives, Wills

An estate plan, properly executed, can protect you as well as your family in the event of sickness, accidents, or untimely death. This eight-point checklist can help determine whether your estate plan needs help.

Inherited Retirement Accounts: Five Things You Need to Know

Categorized in:

Trusts, Retirement Accounts

Almost everyone has some kind of retirement account—whether a 401(k), IRA, or pension—so proper estate planning for these funds is essential.

Inherited IRAs Are Not Protected from Creditors

Categorized in:

Asset Protection Planning, Trusts, Retirement Accounts

Careful estate planning can ensure that inherited IRAs remain safe from your beneficiary’s creditors. In most cases, establishing a standalone retirement trust will protect your assets without restricting your beneficiary’s access to them.

Why We Procrastinate about Estate Planning

Categorized in:

Trusts, Wills

Here are some of the more common reasons why we procrastinate about estate planning—and some information that just might get you moving.

Common Misconceptions about Living Trusts

Categorized in:

Trusts

There are many misconceptions about living trusts, including that they are only for wealthy people. Learn the facts behind these common misconceptions.

Five Common Mistakes with Living Trusts

Categorized in:

Trusts, Probate, Executor and Trustee Responsibilities

A properly prepared and funded living trust has many benefits, including avoiding court interference at death and incapacity. Here are five of the most common mistakes.

Four Things a Living Trust Does Not Do

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Trusts

A revocable living trust does not do the following: control medical decisions, protect assets from creditors, help you qualify for Medicaid, or affect your income taxes during your lifetime.

The Benefits of Revocable Living Trusts

Categorized in:

Trusts, Inheritance Planning, Probate

A living trust that has been properly prepared and funded with your assets can provide many benefits for you and your loved ones.

What Does Funding My Living Trust Mean and How Do I Do That?

Categorized in:

Trusts, Probate

Trust funding is the process of transferring ownership of your assets from you to your trust. Learn more about this process and how it fits into your estate plan.

Who Can Be Trustee of My Living Trust?

Categorized in:

Trusts

When you establish a living trust, you name someone to be the trustee. Learn about the options you have for who you can name as your living trust trustee.

Estate Planning Myths That Can Ruin Your Plans

Categorized in:

Asset Protection Planning, Trusts, Wills, Probate

Common estate planning myths, as well as the truth behind them.

Two Types of Trusts: Which Protects Against Creditors?

Categorized in:

Asset Protection Planning, Trusts

The type of trust that will protect your assets from creditors is an irrevocable trust. Another type of trust, a revocable living trust, will not protect assets from creditors.

Three Ways to Transfer Your Family Business

Categorized in:

Trusts, Business Succession Planning

For family business owners, estate planning is crucial to the success of the business. If you have not already drafted an estate plan that includes the succession of your business, begin today.

Your Joint Accounts and Estate Tax Planning

Categorized in:

Trusts, Inheritance Planning, Wills

Joint accounts are a popular estate planning option because they allow the quick transfer of assets after the death of one or more of the joint owners.

Should I Name All of My Children as My Successor Trustees?

Categorized in:

Trusts, Executor and Trustee Responsibilities

Because your successor trustee should be someone you know and trust, many people name one or more of their adult children in this position.

Is a Living Will the Same as a Living Trust?

Categorized in:

Trusts, Medical Directives

What is a living will vs a living trust? They are very different documents and do very different things. This article will help you understand the difference.

Common Types of Trusts

Categorized in:

Trusts

Trusts come in many different varieties and serve a multitude of different purposes. Some of those are Revocable and Irrevocable Trusts, Credit Shelter Trusts, and Irrevocable Life Insurance Trust.

Disabled Children and Your Estate Plan—What’s Best?

Categorized in:

Trusts, Disability and Special Needs

Without proper parental estate planning, a disabled child who is unable to live independently may be left extraordinarily vulnerable.

Estate Planning for Unmarried Partners

Categorized in:

Trusts, Medical Directives, Financial Powers of Attorney

Estate planning issues for unmarried partners to consider for after death estate planning.

Disinheriting a Child

Categorized in:

Trusts, Inheritance Planning, Disability and Special Needs

What to consider when you are thinking of disinheriting your child.

How to Leave Assets to Adult Children in Estate Planning

Categorized in:

Trusts, Inheritance Planning, Lifetime Gifts, Planning for Minors

Learn about the several options available when considering how to leave assets to adult children.

Estate Planning Checklist Before You Travel

Categorized in:

Trusts, Legacy, Medical Directives, Inheritance Planning, Financial Powers of Attorney, Retirement Accounts, Wills, Planning for Minors

A checklist of eight estate planning things you should take care of before you travel.

Ten Things To Do Before the End of This Year

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Trusts, Medical Directives, Inheritance Planning, Lifetime Gifts, Wills, Planning for Minors

Ten major estate planning goals to accomplish before the end of the year.

Estate Planning After Divorce

Categorized in:

Trusts, Medical Directives, Financial Powers of Attorney, Retirement Accounts, Wills

Learn about what changes to your estate plan should be completed and considered when planning for your divorce.

How Should You Hold Title to Real Estate?

Categorized in:

Trusts, Financial Powers of Attorney, Probate

Most people don't think about how to hold title until the title company poses the question when you buy or refinance. Learn the most common ways to hold title to real estate.

The Need for a Pour-Over Will

Categorized in:

Trusts, Wills, Probate

A pour-over will is necessary in the event that you do not fully or properly fund your trust.

Will the FDIC Protect My Bank Account?

Categorized in:

Trusts, Retirement Accounts

Rules from the FDIC clarify how you can ensure maximum FDIC insurance coverage. You may need to modify your planning to take advantage.

GRAT | Grantor-Retained Annuity Trust Planning

Categorized in:

Trusts, Lifetime Gifts

Learn how Grantor-Retained Annuity Trusts (GRAT) work and the advantages of GRAT planning.

Understanding the Significance of Trusts

Categorized in:

Asset Protection Planning, Trusts, Inheritance Planning

Trusts can provide significant advantages to those who utilize them, particularly in protecting trust assets from the creditors of beneficiaries.