Category Archives: Trusts
The Importance Of Reviewing And Updating Your Trust
After establishing and funding your trust, you may think the task is done. You may simply put the document in a safe or other location where you store important papers. However, change in life is inevitable and funding a trust is not something you can forget about after it is done. It is important… Read More »
How To Transfer Your Business Into A Revocable Trust
Owning a business is about more than just earning a living. It is about pouring your blood, sweat, and tears into a successful company. You want to protect it now, and in the future. Perhaps you have had the foresight to draft an estate plan but you have overlooked an important step during the… Read More »
Revocable Vs. Irrevocable Trusts: What Is The Difference?
There are many different tools you can use when planning your estate. One of the most useful of these are trusts. While there are also many different types of trusts, they all fall into one of two categories: revocable or irrevocable trusts. These two types of trusts have several differences and they are also… Read More »
How To Make The Most Of Your Revocable Trust
Many people create their estate plans with the goal of helping their loved ones avoid the probate process after they pass away. Revocable trusts are one way to do this but many people do not know how to make the most use of these documents. Simply having a revocable trust will not provide you… Read More »
Three Common Mistakes To Avoid When Establishing A Trust
Establishing a trust is an important way for many people to ensure their property is managed and distributed according to their wishes in the event that they pass away or become incapacitated. There are many different types of trusts you can establish but the most common are revocable living trusts. With a revocable trust,… Read More »
Four Reasons To Include A Trust In Your Estate Plan
Many people are aware that they should include a will in their estate plan. However, there are other legal tools that should also be included in your plan, such as a trust. There are many good reasons to include one or more trusts in your estate plan. These legal documents can bring certain benefits… Read More »
Important Things To Know About Trust Administration
If you have been named as trustee of someone else’s trust, you may know that your main task is to follow the wishes of the deceased. However, trustees have many important responsibilities. You will have to communicate with beneficiaries, manage the property of the deceased, and comply with many legal requirements. It is also… Read More »
What Are The Benefits And Drawbacks Of Establishing A Trust?
Trusts are legal documents that allow individuals, known as grantors, to transfer property into a trust. During their lifetime, grantors can control and use the property in the trust. They name a successor trustee to manage the trust after they pass away. Many people choose to include a trust in their estate plan because… Read More »
Revocable Vs. Irrevocable Trusts: What Is The Difference?
Establishing a trust while you are estate planning can feel overwhelming if you do not have proper guidance. You will have many options to decide from and not only will these affect the legacy you leave behind, but your financial security, as well. All trusts in Florida are either revocable or irrevocable and these… Read More »
What Are The Duties Of The Trustee?
When someone creates a trust, they typically act as the trustee during their lifetime, managing and controlling the property within it. They will also name a successor trustee, who will take over the management and control upon the grantor’s, or creator’s, death. Trustees have very important duties. If you are going to establish a… Read More »