Estate Planning

A credit shelter trust is a trust that allows a married investor to avoid estate taxes by opening and setting up a credit shelter trust. This trust will pass on all assets to an heir, however,...

One of the most common estate planning strategies is to create a living trust. A living trust is a legal entity which owns property that is controlled by a trustee (usually the person who created...

A living trust protects the assets of a person or family. A living trust also explains the wishes of the individual should he become incapacitated. A living trust is a private agreement that is...

Trust investment accounts sound complicated, but they technically operate like regular brokerage accounts. The biggest difference is that professional trustees control the account based on a...

Determining how a trust fund works can be difficult because there are many factors that one must consider. In order to determine how a trust fund works, you need to decide what kind of trust fund...

Legacy planning usually refers to your will, living trust, medical directive and a power of attorney as well as any intangibles that you wish to pass on such as values and beliefs. The legal...

If you had a trust created to protect your beneficiaries, you might consider naming a corporate trustee as opposed to a family member to provide objective and professional management of your...

When estate planning, one thing you will have to do is choose a trustee. The trustee is the person who is responsible for distributing assets to beneficiaries and continuing to manage your estate...

Setting up a special needs trust (SNT) requires knowledge, forethought and planning to avoid cutting off government benefits such as Medicaid and SSI to a disabled heir. If set up correctly, an...

The setup of a total return trust (or unitrust) is the choice of many who desire to provide a constant level of support for a beneficiary. Payment is made based on a fixed percentage of the...

A spigot trust is also called a specialized NIMCRUT (net income with make-up charitable remainder unitrust). This type of trust pays the net income earned annually with limits to a specified...

The decision to set up a QPRT (qualified personal residence trust) will let you pass on your home to your children with a major tax savings and remain in the home for a predetermined number of...

Spouses often use living trusts to protect assets from being probated and taxed upon a spouse's death. For a living trust to be valid and actually bypass probate, any of the assets with a title...

A bypass trust is a tool used by married couples who do not want their heirs to be taxed twice on their estates. Without a bypass trust, when a spouse passes away, his surviving spouse is taxed on...

You can choose to set up a life insurance trust to alleviate heirs from heavy taxes imposed on your estate when you die. While life insurance itself will pass to the named beneficiary upon death,...

Named for Clifford Crummey, the Crummey trust is meant to help parents save for their child's college education. The trust works when a parent, grandparent, friend or relative contributes to a...

Many parents set up a testamentary trust to ensure their minor children (in the name of their guardians) receive a steady income. Other reasons to set up a testamentary trust include caring for a...

Since it was established in the early 1990s, the Labuan Offshore Financial Services Authority (LOFSA) has become one of the world's premier investing centers. It was not until 2002 that Labuan...

A charitable remainder trust is a tax-exempt, irrevocable trust where assets (property or money) are donated to a qualified charitable organization. It is a way for the donor to reduce income...

There are four main ways to reduce federal estate taxes when someone dies. Some of these methods require estate planning prior to death. An estate-planning attorney can help you take the steps to...

Donating part or all of your estate to charity will not only benefit the charity but could reduce the amount of estate taxes your heirs have to pay on your estate. Here's how to do it.

There are several issues that go along with passing on a family vacation home, and the solutions can be complicated if you're not prepared to deal with them in advance. These issues can include...

We love and care for them when we're alive. What happens to our pets when we die? Will your state recognize a provision in your will that your pet parrot shall go to Uncle Leroy? Does Uncle Leroy...

A trustee is in charge of administering a trust. You can act successfully as trustee if you understand your duties and follow sound, professional advice.