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.
Category Archives: Trusts
29
Jan
Jan
When you die, your accounts and property pass to minor children in equal shares. However, such money often proves insufficient for individual heir’s expenses.
07
Jan
Jan
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.
24
Dec
Dec
No trust contains unlimited funds or an interminable time horizon. In the end, every trust eventually ends.
29
Oct
Oct
In most cases, people emphasize the complexities associated with court involvement. Namely, court supervision makes the process of distributing money and property a public proceeding.
24
Sep
Sep
Unfortunately, despite our best efforts, millions of people misplace wills and trust documents.
17
Sep
Sep
The first way to properly prepare to receive an inheritance is to discover what you will be inheriting. Is it real estate, a 401(k), or an individual retirement account (IRA)?
Assets, Estate Planning, Inheritance, Life Changes, Trusts, Uncategorized
Community Property or Separate Property
10
Sep
Sep
At the time of a death, the legal determinations ensure that the court distributes inheritances in an orderly fashion. Issues may arise during death or divorce depending on whether you live in a community property or separate property state. Based on differing expectations of all parties involved, disagreements may arise.
Estate Attorney, Estate Planning, Estates, Trustee, Trusts
A Separate Revocable Living Trust (RLT): What is it?
27
Aug
Aug
When a married couple (the grantors) uses a joint RLT for estate planning, they also serve as initial trustees of the trust. The grantors then combine their separate property and joint property into the same trust.
20
Aug
Aug
Does creating or updating your estate planning seem daunting? If so, this blog addresses common questions senior citizens ask about estate planning.