Protect Estate Assets from Creditors with a DAPT Trust
When developing an estate plan, you may want to consider setting up trusts for various reasons, including protecting your assets from potential creditors.
One way to accomplish this, depending on where you live, may be to set up...
A Trust to Help Fund the Payment of Estate Taxes
Consider this dilemma faced by a high-net worth individual: He doesn't want his heirs to be burdened with estate taxes so he takes out a life insurance policy to cover the tax bill. But then...
Benefits of Charitable Remainder Trusts
A charitable remainder trust (CRT) is an irrevocable trust set up to benefit a charitable organization. The trust's term is one lifetime, several lifetimes, or a period not to exceed 20 years. Basically, you irrevocably gift...
When Should You Select a Professional Trustee?
One of the most vital decisions to ensure preserved legacy and proper estate execution is electing the right professional or family trustee for investing and properly distributing your estate.
Desirable characteristics of a trustee include being...
Understanding Dynasty Trusts
Essentially, a dynasty trust enables a grantor to gift or bequest funds to the trust for the use of beneficiaries and subsequent generations. The goal is to have the trust accumulate the assets while...
Two Charitable Trusts that Provide Dual Benefits
Two popular charitable giving vehicles are charitable remainder trusts (CRTs) and charitable lead trusts (CLTs). They are what's known as "split-interest" trusts. Why? Because of their dual beneficial interests: They can benefit a favorite qualified...
How to Avoid Ambiguities in a Will
Will drafting can be complicated. People can run into problems if they attempt to do it on their own, or rely on websites that do not offer legal counsel, or even hire an inexperienced or...
When Is a Will ‘Ancient?
There may be a time when you come across an old will of someone who recently died. Perhaps it is discovered in an old file cabinet. However, the witnesses to the will may have died...
Name an Understudy for Yourself with a Power of Attorney
Few images are as scary as imagining yourself incapacitated. Still, you should consider the possibility that in your absence, someone else will have to take care of business and make important decisions.
Enter the "power of...
How to Wrap Up an Estate
If you're an executor or personal representative of an estate — or even an heir — eventually you want closure on the estate. Sometimes, estate proceedings continue to be open for years with no end...
