Estate Planning & Administration, Special Needs Trusts, Probate and Conservatorships
Estate Planning & Administration, Special Needs Trusts, Probate and Conservatorships
Learn more about Estate Planning, Administration, Special Needs, and related topics by signing up for our newsletter, or reviewing previous articles.
Success in business requires planning, commitment, and a strategic approach. Many new businesses take at least two or three years to turn a profit and twice as long to truly hit their stride.
If you’ve created a business, you know that success doesn’t happen overnight. But do you know what will happen to your business if something unexpected impacts you or when you decide to step away?
Read More
Wills and trusts are foundational estate planning tools. While each is used to distribute assets to beneficiaries, they do so in different ways. Each also has its own distinct uses and advantages. They’re often used together to close gaps in an estate plan and prepare for multiple scenarios that might otherwise cause unexpected burdens for heirs.
Read More
If you have been appointed the trustee of a trust, it is a strong vote of confidence in your judgment and trustworthiness. It is also a major responsibility. A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” The following is a brief overview of a trustee’s duties:
Read More
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” The rules or instructions under which the trustee operates are set out in the trust instrument. Trusts have one set of beneficiaries during their lives and another set — often their children — who begin to benefit only after the first group has died. The first are often called “life beneficiaries” and the second “remaindermen.”
Read More
A trustee is the person or institution appointed to manage a trust on behalf of beneficiaries of the trust.
Being a trustee is a significant responsibility. Those serving in this role must always act in the best interests of beneficiaries when carrying out their trust management duties, which include locating and protecting trust assets, investing assets prudently, distributing assets to beneficiaries, keeping track of income and expenditures, and filing taxes.