04/14/2023
This is a fairly good, very basic article on Trusts. While several types of trusts are listed in the article, I would point out that by far, the most common trusts are those in which the Grantor, the Trustee, and the Beneficiary are all the same person(s). A trust is great option for streamlining the process after one's death, when the parties involved are least able to deal with business matters. Nothing needs to be done immediately, if at all. A well written trust allows for things to continue as they were, as opposed to the disruption, the cost and the pain of probate. This especially applies to those with minor children.
Just a note: if a loved one of yours dies, DON'T pay any of his/her debts until you visit with your attorney to figure out what legally has to be paid!
Thank you for your time.
Camille
When making an estate plan, using a trust is a way to make passing assets - including both cash and physical assets - a bit easier. In fact, when using a trust, you can often allow your family to avoid … Continue reading → The post Do You Have to Pay Taxes on a Trust Inheritance? appeared first ...