Legal Trusts

How to Decide if you need a will, a living will, a living trust or all three.

To most, a living trust--more formally known as a Revocable Living Trust or a Family Trust--is much like a will. Unlike a will, assets are transferred into the living trust in a manner called...

A trust is a legal relationship that allows one or more people to share and transfer property in a way that avoids probate and can reduce or eliminate estate and inheritance taxes. A family trust...

Basic living trusts are easy to set up, especially if you have a good form from which to start. The essential aspects of a trust include naming a trustee, naming one or more beneficiaries and...

A power of attorney is when you give someone the legal right to act on your behalf if you are incapacitated. Avoid common mistakes and craft your power of attorney to meet your specific needs.

Obtaining a death certificate is important for verification of the passing of your loved one. You will need a death certificate in order to receive benefits, close your loved one's accounts and...

The benefits of establishing a living trust include paying less tax, having a property-management strategy in the case of incapacitation, and protecting someone's financial privacy. But some...

When a family member passes away an estate sale can be set up to sell their items. Estate sales can get complicated if not done the right way however. This article will outline how to set up an...

If you are named as a beneficiary of a trust, you may have a number of questions, including how becoming a beneficiary will impact your income tax bracket.

Most trusts allow you to add property to the trust by following a few simple steps. You can add any kind of property, including bank accounts, investment and retirement accounts, personal property...

Joint tenancy refers to a type of joint ownership of real property between two or more individuals. In a marriage, for example, joint tenancy gives each spouse an equal interest, or share, in the...

A beneficiary of a family trust enjoys certain rights. These rights are established by the probate code, the set of statutes governing estate-related matters including family trusts. They are also...

There are two kinds of advanced directives for health care. There is the living will and the appointment of a medical power of attorney. With the living will, you make the decisions for your...

Drafting an irrevocable trust means establishing an arrangement whereby the beneficial ownership of assets is separated from legal ownership. Irrevocable trusts, used mainly for estate planning...

A power of attorney can be in instances in which an individual needs assistance in dealing with financial or health related issues. If you have a family member or a close friend in need of this...

Estate-planning documents such as wills and trusts are confidential prior to the person's death, and living trusts are no exception. Unless a person is the designated trustee, they likely won't...

Trust law permits individuals and families to allow others to benefit from property without having control over how it is managed, a situation that is helpful to those who don't trust the...

A trust is a separate legal entity that can buy, sell, hold and distribute property according to the terms set forth by the grantor. Some trust accounts use separate tax ID numbers while others...

Many people die without a will, leaving their estate intestate. A will protects your family members from a lengthy legal process and possible liable for unnecessary taxes. Here are simple steps...

One of the biggest advantages of putting property into a trust is that the trust avoids probate when you die. Other advantages include protecting the property from creditors, and saving estate...

If you have a living trust you are already a step ahead of most people. However, as you have probably learned by now, the trust creation is merely the beginning. Your entire estate plan, including...

A family trust and a marital trust are very similar. Both allow one person, either a spouse or other family member, to share the benefits of property ownership with the other spouse or other...

An irrevocable trust is a legal tool you can use as part of an estate plan to handle your property both in life and at your death. Although the details can vary from state to state, the law...

Trust and estate law is an important field that helps people organize their assets so as to maximize their legacy. Probate avoidance is the most common reason for creating a trust. This can be...

A living trust is an excellent means of avoiding probate and saving ones survivors much heartache and money upon ones death. It is a private document, entered into by a trustor and trustee to hold...

An irrevocable trust can provide some significant tax benefits, especially for trust property that earns an income, and even more especially if the trust is worth millions of dollars or more. The...

Trusts are relatively common but not particularly well understood. Though there are numerous special types of trusts, most fall into the two general categories of revocable or irrevocable....

An irrevocable trust can serve many purposes. A trust is a legal relationship that you can create to transfer or protect property. Irrevocable trusts are commonly used to safely hold property, to...

Trusts are legal creations that can provide significant benefits, including avoiding probate, appointing professional trustees, sharing income and property, and saving taxes. Trusts often raise...

Living trusts are helpful, and sometimes critical, components of a well-structured estate plan. The type of living trust you need depends on your individual circumstances. Generally, you will have...

A family trust is a legal tool that allows one person to share the benefits of their property with, or transfer property to, other family members. The advantages of using a family trust can be...

A trust is a valuable legal tool that should be a part of nearly everyone's estate plan. A trust provides significant benefits, including avoiding probate and providing for the professional...

An irrevocable living trust is a specific type of living trust. An irrevocable living trust can provide significant benefits, but it also requires the person creating the trust to give up control...

Living trusts, also called inter vivos trusts, are one of the most popular ways to transfer property. But this doesn't mean they're universally well understood. Probate avoidance is the usual...

A living trust is a key part of a good estate plan. An estate plan is a collection of legal documents that will provide for your property when you die, and also will provide for you and your...

A revocable trust is a legal document that can protect your assets and allow you to transfer property when you die without a will. This is helpful because no will means no probate, and avoiding...

A family trust is a specific type of trust that generally refers to one created for more than one member of the same family, such as multiple children or siblings. Technically, there is nothing...

A living trust is a relationship between at least two people. It is used as a part of estate planning, principally to avoid the costs and delays of probate. A living trust is a way for an...

Power of attorney is a process in which you assign someone else to be your agent, to act on your behalf. You can give someone power of attorney to make medical decisions or financial decisions,...

Jaycee Lee Dugard was an 11 year old girl when she was kidnapped 18 years ago while walking to school in 1991. Her kidnapper, Phillip Garrido, held her captive in his backyard for nearly two...

A living trust can provide significant advantages, including avoiding probate and minimizing taxes. But only certain types of property should be placed in trust. For example, income-producing real...

People often confuse the terms "living will" and "living trust," thinking they are one and the same. In fact, these are separate documents that are both important pieces of a solid estate plan....

A living trust is a legal vehicle that can help you manage property, avoid probate and potentially reduce your taxes. Technically, a trust is a legal relationship involving three parties, the...

A trust is a legal relationship that you can create to transfer or protect property. A trust always involves at least three parties, including the trustor (the person who creates the trust), the...

A living trust is a three-party legal relationship involving the trustor (the person who creates the trust), the trustee (the person who manages the trust) and one or more beneficiaries (the...

A living trust is a key component of nearly everybody's estate plan. A trust is a legal relationship involving three parties: the trustor, meaning the person who creates the trust; the trustee,...

A trust is a fancy term for a three-party legal relationship. A trust involves the trustor (the person creating the trust), a trustee (the person managing the trust) and one or more beneficiaries...

A Durable Power of Attorney is a document that gives a person written permission to act on another's behalf in a business or legal transaction. It is frequently used by members of the military and...

Most elders want to use the assets they have accumulated over the course of their lives for a happy retirement, then leave an inheritance to their family. Long-term health-care costs can swiftly...

A living trust does not legally exist until some property has been transferred to the trust. In other words, the trust comes into legal existence as soon as the trust is funded. A living trust is...