Category: Trusts

Family trusts are a valuable estate planning strategy that allows individuals to control what happens to their assets during their lifetime and upon death. Furthermore, property held in trusts is exempt from probate and can be quickly passed along to family members. It isn’t hard to arrange family trusts, but the process takes a little […]

We are often asked the question, what is a trust and do I need one? While there several reasons to setup trusts the most prevalent is to avoid probate and make transferring property to beneficiaries easier and faster. A simplified answer to what is a trust, is it is can be compared to a safe […]

A revocable trust is a legal agreement that you create to safeguard your assets and pass them along to heirs when you die. Property is titled in the name of the trust and managed by a Trustee. In most cases, you will be the designated Trustee, but you can appoint someone else to manage the […]

Setting up a child trust fund provides the opportunity for parents or grandparents to purchase stocks, bonds, mutual funds, and life insurance policies that can be transferred to minor children when they reach legal age. Assets are placed into a child trust fund because minor aged children are not allowed to enter into contracts. The […]

A family trust is more commonly known as a living trust. This is a legal document that retains ownership of titled property and financial assets. The person setting up the trust has total control over assets while living and appoints a Trustee to settle the estate upon death. Setting up a family trust requires individuals […]

Preparing a Will and Testament is one of the best final acts a person can do for their family. Any time someone passes away without writing a Will their relatives have to make decisions they usually aren’t prepared for. Writing a Will and Testament isn’t a difficult process and offers many benefits. First of all, […]

A lot of people setup a living trust to avoid the probate process. This type of estate planning method involves transferring ownership of possessions to the trust which is managed by a Trustee. The Trustee of a living trust is the person who owns the property. They are also referred to as the Grantor. Transferring […]

Executing a last Will is one of the most important aspects of estate planning. This document is used to designate an estate agent to settle your estate upon death. It allows you to gift inheritance to relatives, friends, and charities and arrange legal guardianship for your children. In simple terms, the last Will is needed […]

Trusts are used to safeguard estate assets and reduce estate and inheritance taxes. Most people find the process somewhat confusing because there are different kinds of trusts and methods for setting them up. Some of the most common include: revocable, irrevocable, living, and testamentary trusts. Essentially, trusts are used to secure property that is intended […]

Power of Attorney assigns permission to someone to perform certain duties for another individual. This form is frequently utilized with estate planning and is also used to enable an individual to make medical choices when a person can no longer speak for their self. Giving power of attorney privileges is a very important decision that […]