Working with an attorney who specializes in estate planning and trusts is critical to ensuring you’re choosing the right trust for your needs and that it’s structured according to your wishes. Some of the most common types of trusts are: Revocable living trusts: A revocable living trust ...
A trust is a legal entity created to hold assets for the benefit of someone other than the creator. Almost anything can be placed in a trust – cash, stocks and bonds, insurance policies, real estate, possessions etc. There are many different types of trusts, each with a different purpose...
You can choose from several different types of trusts, ranging from special needs trusts for disabled loved ones to contingent trusts, which only allow your heirs to access the assets after fulfilling certain conditions. For instance, you can name your child the heir to a trust—but only allow...
Types of Trusts Arevocable living trustis the main type of trust in estate planning. You can change or revoke the terms of this kind of trust at any time while you’re alive. The trust instructs the trustee as to how to distribute your assets to beneficiaries while you’re alive, after...
Complete Guide to Estate Planning Estate-Planning Basics Wills vs. Trusts Types of Trusts Estate-Planning Strategies Your Legal Team Questions to Ask Your Estate-Planning Attorney Certifications for Estate Planning CURRENT ARTICLE Advice for Heirs
Trusts are often established as part of the estate planning process, and can be used as a tax-efficient means of passing on assets such as land, money and shares. They allow the person responsible for setting up the trust to retain a degree of control as to the way in which the assets...
The Importance of Trusts in Estate PlanningSusan Peckett Witkin
taking it one step further, there’s other types of trusts. For example, a lot of my clients, they want to protect their kids, but also they want to protect themselves. Protect themselves from a lawsuit, a creditor. You drive around Metro Detroit, you see a lot of signs for these per...
Trusts & Estate Planning is one of the most important things an individual can do to protect their family’s overall well-being and future.
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