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Trust Planning

Treasure Chest with Money

What Is the Purpose of a Trust?

There are many types of trusts, but irrevocable and revocable trusts are the most common. An irrevocable trust involves giving up control of your assets durin.... Read more

Keys in Man's Hand

The Role of the Trustee or Trustees

If you create any type of trust, but won't or can't serve as the trustee, you'll need to decide whom to appoint. Trustees have a lot of authority over the mon.... Read more

Tax Key

Managing Trust Taxes

Depending on how trust documents are drafted, trust income can be taxable to beneficiaries, to you, to the trust, or to a combination of all three. Maybe you .... Read more

Trust Planning
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Life Estates

Life Estates

Article written 9 months ago by Lawyerscomsm

When a parent transfers ownership of her home to her children but reserves the right to live there for the rest of her life, she creates a life estate. The parent becomes the "life tenant" of the prop... Read more

You May Have to Pay for Your Parents' Care

You May Have to Pay for Your Parents' Care

Article written 9 months ago by Lawyerscomsm

It's legally well established that parents have a responsibility to financially support their children. In approximately half of all states, however, the reverse is true as well - adult children have ... Read more

Irrevocable Life Insurance Trust

Irrevocable Life Insurance Trust

Article written 9 months ago by Lawyerscomsm

People usually purchase life insurance policies with the intention of providing for their loved ones after they die. Depending on the overall size of your estate, however, your loved ones may not rece... Read more

What Happens to Debt After Death?

Article written 9 months ago by Lawyerscomsm

Most individuals owe money to someone. It's hard to live in the modern age without incurring at least some debt. Debts don't usually die with the individual who incurs them, but sometimes they do. The... Read more

Continuing Care Retirement Community Provides More Options

Article written 9 months ago by Lawyerscomsm

A continuing care retirement community (CCRC) offers older adults the opportunity to make a one-time decision regarding retirement living arrangements. You pay an entry fee and monthly rent. The CCRC ... Read more

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