There are many different types of trusts that people choose to use for estate planning purposes. The most basic, however, are known as revocable living trusts. You can set up a trust like this by contacting a local estate planning lawyer and discussing which assets you hope to place into or distribute through the trust. This involves the grantor or the creator setting up a trust that keeps that person in control Read More
Why Would Someone Revoke a Trust?
What if you put together an estate planning tool now, but it’s no longer relevant for what you want in the future? Coming up with a plan that addresses your current needs but also allows for flexibility over the years can be a challenge. This is why it’s best to find a NH estate planning lawyer who can help you as your needs evolve. A trust is a powerful estate planning tool. It gives you privacy, flexibility and Read More
How To Avoid Arguments With Siblings When a Parent Passes Away
The loss of a parent has many implications for surviving family members, but it is all too often the case that siblings can end up in the midst of disputes with other siblings. Dividing up the assets of an estate is not always easy, and when people do not agree on the best way to do this or the interpretation of the will, this can lead to extensive and expensive legal actions. As a parent, you can do some proactive Read More
Should I Use A Revocable Or Irrevocable Trust?
There are many different trusts out there that can help you for estate planning purposes, but it is essential that you work with an estate planning lawyer to help you decide which strategy is right for you. You may have heard of different kinds of trusts, such as a special needs trust, a grantor trust or a testamentary trust. All of these are either irrevocable or revocable. A revocable trust simply means that it Read More
Advantages of Using a Revocable Living Trust for Asset Transfer
There are many different advantages to using a revocable living trust as part of your estate planning. If an accident or an illness leaves you incapacitated but still alive, your successor trustee is able to handle your financial affairs without the need for appointing a conservator or a guardian by the court. Another major benefit to using a revocable living trust is that if the beneficiaries of your trust are Read More
What Happens If I Need to Settle a Revocable Trust After the Trust Maker Has Passed Away?
Most people will not have had the experience of being named a successor trustee in charge of settling a person's revocable living trust after a loved one passes away. There are many different steps involved in closing out this trust and all of these should be approached with care and with the possible support of an experienced probate lawyer. The first step to settle a revocable living trust is to locate all of the Read More
