One of the documents that should be a part of your trust-based estate plan is a Certificate of Trust. This legal instrument provides basic, relevant information about your trust to third parties without sharing the full details of the trust document.
What is a Certificate of Trust?
A Continue reading
Category: Trust Administration
Estate Administration – Where TV and Movies Get It Wrong
Do you remember any scenes from a movie or television show involving a will, a trust, or the aftermath of a person passing away? While television and movies provide great entertainment, they are not always factual. Even shows based on real events are not entirely accurate. Creators Continue reading
Key Numbers for 2024
Some of the key numbers used in estate planning and long-term care planning are adjusted each year. Let’s look at some of the numbers that are in place for this year.
Estate Planning
(Federal Numbers)
Annual gift tax exclusion $18,000
Gift tax and estate tax applicable exclusion amount Continue reading
Integrating a Community Property Trust Into Your Estate Plan
If you have highly appreciated assets, you may wish to consider a community property trust as part of your comprehensive estate plan. The community property trust is a special type of trust that treats a couple’s jointly acquired accounts and property as community property and can Continue reading
Maximizing Your Impact: Giving Strategies in Estate Planning
When to Consider a Testamentary Trust
Avoiding probate is one of the main reasons that many people create a revocable living trust during lifetime instead of relying on a will to transfer their money and assets to their beneficiaries after their death. Probate is the court process that proves the validity of the will Continue reading
Investment and Distribution Trustees: Why Would I Need Both?
When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will act next, when you can no longer act because of illness or death, it is sometimes helpful to divide the responsibilities Continue reading
Spousal Lifetime Access Trusts
If you’re a middle-class individual with significant assets, you may be exploring estate planning strategies that can help you protect and pass on your wealth. One option that has gained popularity in recent years is the use of a SLAT, or a spousal lifetime access trust. In this blog Continue reading
What to Do if Your Trustee is Unresponsive
If you are a beneficiary of a trust and your trustee is unresponsive to your requests for information regarding the trust, what should you do? A trustee has a duty under the law to communicate with beneficiaries and keep them reasonably informed as to the progress of the trust administration. Continue reading
Can a Trust Own My Business After I Die?
If you own a business, it is important to consider what happens to the business after your death. Who will own the business? How will the business be run? Who will benefit from the business? A trust can be a great way to manage these decisions. The details will vary based on the type Continue reading
Can a Trust be Kept Secret from its Beneficiaries?
Families who have accumulated a substantial amount of wealth during their lifetime are often reluctant to disclose the full extent of their wealth to their children. Many express concerns about whether the younger generations are ready for the wealth they may receive and the impact Continue reading
Trust and Estate Administration – Who Should Attend the Meetings?
A loved one’s passing is felt by their entire surviving family. But when it comes to carrying out the decedent’s final wishes, not everyone has an equal say. Instead, in most cases, only one person—the executor, personal representative, or successor trustee—plays that key role. This Continue reading