A trust is a more complex, expensive plan for a beneficiary's assets that provides a plan during the person's life before their passing. A will often suffices for individuals with fewer assets or who do not have a complicated plan for asset distribution after they pass. A trust is likely...
A simple trust might pay out all the assets to beneficiaries upon the grantor’s death, or it might require the trustee to hold onto the assets until certain conditions are met, like until a beneficiary reaches a certain age. More complex trusts may have strict rules about what assets (prin...
Creating A Living Trust: What You Need To Know 17 Jan, 2025 Taking The First Step Of Creating A Living Trust The first step is simple: meeting with a Legacy Law Centers' attorney to discuss and define your goals.… Read More Wills Vs. Trusts: Which Is Right For You?
trust agreement.The disposition of assets can be as simple as equal distributions to the children or as complex as providing for long-term trusts to provide income payments to the beneficiaries and distributions at specified ages, or generation-skipping provisions to pass assets to beneficiaries two...
Though setting up a trust can be costly and complex, it can make the inheritance process easier on your beneficiaries. To ensure your trust performs as it was intended, timely and proper funding is vital. What types of assets can go into a trust? Many people assume that once they sign ...