Statements of Intent or Purpose

Letter of purpose or intent

The reasons a trust-maker creates a trust emerge as important. However, your intent or purpose for creating a trust imparts legal ramifications. Therefore, a trust-maker must express (in writing) their intent or purpose for creating the trust.

More About a Common Trust

Estate Planning Dividend

The trust created often leaves instructions to the trustee. In these, they note that older children earn an advancement from the common trust. They use this to pay for expenses such as buying a home or starting a business.

Your Future after Bankruptcy

Making Bankruptcy decision

Whether you filed for Chapter 7 or Chapter 13 bankruptcy, assume that you own less money and property than before the bankruptcy. However, during the bankruptcy process, the court reports certain accounts and pieces of property under a federal or state exemption.