Experienced & Essential
A trust is a three-party fiduciary relationship in which the first party, the trustor or settlor, transfers ("settles") a property (often but not necessarily a sum of money) upon the second party (the trustee) for the benefit of the third party, the beneficiary. A testamentary trust is created by a will and arises after the death of the settlor. An inter vivos trust is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; in the [...]
So it is unlikely anything will happen to you (and or your spouse) but you can make sure your kids have a contingency plan my naming a guardian for your kids in a last will and testament or related legal document. In an excellent article by Claire Zulkey, she points out the main issues and why you need to appoint a guardian for your kids JUST IN [...]
Does Your Family Know Anything about Your Estate Plan? Your Kids Should Know Your Intentions (and where the documents are)!
Creating your Estate Plan is really only the beginning of providing assurances to your kids that your assets won’t be depleted by the courts, the lawyers and the doctors. In an article “Are you having the Right Estate Planning Conversations with Your Family?” Rianka Dorsainvil offered plenty of advice about the importance of family communications with family. This time of year can often feel like a bit [...]