Posts Tagged ‘beneficiaries’
How To Choose A Good Trustee
What should you look for when deciding on a trustee of a family trust? How do you decide on a trustee? Is it best to choose an impartial professional or agency as an estate trustee? (Yes, under most circumstances.) Filling the very important position of estate trustee requires careful consideration of these trustee ranking areas:…
Read MoreDefinition of Irrevocable Trust
An irrevocable trust cannot be changed. It is a trust that, by its terms, can’t be changed except by terms that might be written into the irrevocable trust. It must operate according to whatever are its terms. An irrevocable trust is typically set in a particular jurisdiction: It is considered an independent person under the tax…
Read MoreCharitable or Charity Trusts
Several types of charitable or charity trusts exist, including: Charitable Remainder Trust With a charitable remainder trust, one puts assets, ofttimes appreciated assets, into a Charitable Remainder Trust and takes back a 5 – 10% (of asset value) stream of income for a period of years, or for a lifetime, and then at death whatever…
Read MoreTestamentary Trust Explained
A testamentary trust is set up by a will. The key is that testamentary trusts are given their life after a probate of a will. The will then funds those trusts, which are then deemed testamentary trusts. A testamentary trust is set-up by the testator (aka settlor, grantor, or trustor) through a will-based estate plan…
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