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If you set up a trust, you have a specific goal for the beneficiary. For instance, grandparents will sometimes create a trust for a grandchild’s future tuition costs. They know that going to college can be prohibitively expensive, so they want their inheritance to...
Some people establish trusts to protect their assets or avoid tax obligations after they die. Others create trusts because they worry about the potential negative impact of a lump-sum inheritance. Large inheritances can cause a variety of financial and legal...
Some people establish trusts as they prepare for retirement. They might immediately appoint any healthy, younger person to serve as their trustee and manage the trust on their behalf. Others might serve as the initial trustee and may make arrangements for another...
You have worked hard for your wealth, and now you want it to benefit your loved ones for as long as possible. Granted, your assets may not last forever, but perhaps you want your family to stay financially secure for years or even decades to come. Unfortunately, not...
When you create a trust, especially one that involves long-term property management or multi-generational wealth transfer, you may encounter a term called the rule against perpetuities. Generally, it aims to prevent people from tying up property indefinitely by...
AB trusts, also known as bypass or credit shelter trusts, offer advantages for wealthy people seeking to preserve and protect their assets for future generations. These trusts are valuable estate planning tools that help accomplish various estate planning objectives....
If you are a parent of a child with a developmental disability, you have likely spent countless hours advocating for your child's rights and ensuring they receive the proper care and resources they need. However, you may have concerns about what will happen to your...
Conditional trusts -- or trusts that require the beneficiary to meet certain obligations spelled out within the trust’s documents -- are often criticized. They essentially allow the deceased settlor of the trust to exert “dead-hand control” over their heirs’ futures....
Trying to keep things simple works in some situations, but not universally. For example, focusing on simplicity might leave you under-protected when it comes to creating at your estate plan. Adding more documents can mean better protecting yourself and the people that...