A revocable trustdescribes a trust you create during your lifetime. It gives you, as the grantor or settlor, the ability to change the beneficiaries and assets while you're alive and physically and mentally able to. It also gives you the right to dissolve the trust at any time. There are...
you should draft a prenup that protects the assets you want to hand over to them when you pass. If you plan to have children with your new spouse and already have children from another marriage, a prenup can outline who gets what. ...
Aunit trust(also known as a fixed trust) differs from a family trust in that the trustee generally doesnothold discretion over the distribution of assets to beneficiaries. These structures divide thetrust propertyinto units, similar to shares of stock. Each beneficiary (known as a "unit holder"...
Start by contacting the debt collector to discuss your situation. Offer a lump sum payment or a payment plan that is less than the full amount owed. Always get the settlement agreement in writing. What happens if I ignore a debt collector? Ignoring a debt collector can lead to legal action...
Read More:How to Draft a Deed Determine the type of deed you will use. If the owner is selling the property, the buyer will normally insist on a warranty deed, because it guarantees that the property's title is not encumbered with unrecorded liens or mortgages. If the owner is gifting ...
Going month-to-month on payments can make it easier to break an agreement, but you may want to check with a local attorney before you draft your own version of a lease. Make sure everything in the agreement is covered. Utilities should not be an issue as most people tend to have their...
Create a New Deed Once you decide what type of transfer is most appropriate for your situation, you must draft the deed itself or have an attorney or document provider draft it for you. Arizona deeds must meet the legal requirements established by Arizona statutes, including a brief statement ...
Learn about fiduciary deeds in real estate transactions. Discover how to create one, when it is used, the pros and cons, and legal requirements.
Step 4: Draft the trust document After you’ve made the important decisions about what will be in the trust and who will be involved in it, you’re ready to prepare the document itself, which is called a trust agreement or declaration of trust. This document identifies the trustee and ben...
We draft the contract for deed terms-Purchase agreement-set up the closing with a title company. It is very important to have a title search. The title company with draft the final contract for deed that gets recorded with the county the property is in. Don’t worry I have been in Real...