What is a Testamentary Trust?
Simply put, a testamentary trust is a trust that is written into a Last Will & Testament. The trust does not come into existence until the Will is probated. Testamentary trusts can be created for a variety of reasons. Here are a few reasons a person might want to set up a testamentary trust in […]
Key Parties to a Trust
This article will focus on some of the key parties to a trust. There are generally three parties to a trust; the grantor, trustee, and beneficiaries. The Grantor or Settlor is the person that creates the trust. This person will discuss with their attorney their wishes for the trust and the terms that will […]
What documents should be part of a basic Estate Plan?
A basic estate plan involves planning for two things; a person’s demise and their incapacity. A Person’s Demise “In this world nothing can be said to be certain, except death and taxes.”- Benjamin Franklin. Unfortunately, we all only have a limited time on this earth. Estate planning details how you would like your property to […]
Seven Benefits of a Revocable Living Trust
Many Americans simply leave a will to distribute their assets upon their passing. However, the creation of a Revocable Living Trust creates several benefits unavailable to those simply leaving a will. Here are seven benefits to creating a Revocable Living Trust 1) Avoiding Probate- A great benefit of a living trust is that it […]