What Is the Difference Between a Revocable and Irrevocable Trust?
First, a trust is a separate legal entity that is set up to hold assets during a person's lifetime that allows a third party (or trustee), to hold assets on…
Revocable Living Trusts in California
What Is a Revocable Living Trust in California? A California revocable living trust is a legal contract that allows individuals to continue to own and control their property while they…
What Is a Trustee?
Types of Trustees A trustee typically manages the assets of a trust. However, other common types of trustees include: Successor trustees: These trustees step manage revocable living trusts when the…
How Are Special Needs Trusts Taxed?
First-Party and Third-Party Trusts When speaking of special needs trusts (SNT), there are basically two types: A “self-settled” or “first-party” trust; andA “third-party” or “third-party supplemental needs” trust. A “first-party”…
How Does a Trust End?
What Is a Trust? A trust is an arrangement for your property consisting of an original owner (also known as a grantor, trustor, or settlor) of a property (i.e. bank…
What Is a Probate Lawyer?
What Does a Probate Attorney Do? Probate attorneys can take on the role of administrators, representatives, or executors of estates and if an executor of a will is already appointed,…
What Is an AB Trust?
Once a person dies and their last will and testament is examined to begin the process of distributing assets among the beneficiaries, the estate may be subject to hefty taxes…
How To Set Up a Trust Fund
A trust fund is one of the many tools of estate planning, the main purpose of which is to help you transfer funds, assets or property to family members, loved…
What Is a Trust Fund?
A trust fund is an independent legal entity and commonly used as an estate planning tool to control the distribution of someone's assets after they die or become incapacitated. A…