Choosing A Trustee For Your Living Trust
One key choice when setting up a living trust as part of your estate plan is the Trustee. Naming a Trustee for your living trust or any other trust that you establish for the benefit of another is probably the most important step in making sure that your wishes will be carried out completely. The job of a Trustee is to manage the assets or distribute them according to your specified plan. It is important to choose an intelligent and ethical Trustee whom you completely trust. In doing so, you can prevent problems such as these (real questions submitted by ...
Advantages of Having a Living Trust
ADVANTAGES OF A LIVING TRUST What is a living trust? A living trust is a form of contract. It is created by drafting documents while you are alive to hold legal title of your property for the benefit of yourself or another person. The trust document will dictate how your property will be managed while you are alive and provide instructions on how to distribute your assets upon your death. You can be the trustee of your own living trust as well as the beneficiary, keeping full control over all property held in your trust. It is entirely amendable and revocable ...
Estate Planning
Update Your Beneficiary DesignationsWant to prevent your assets from going through probate? Update your beneficiary...
Divorced? Want To Take Care Of Your Kids But Not Your Ex?
Problem: I want to leave everything to my only child when I die, but I am divorced...
Retirement Plan Trusts
Retirement Plan Inheritance Tax Problem If you have very large balances in your individual...
Joint Tenancy to Avoid Probate in California? Don’t Do It
Today’s Preventive Law Tip: If you are considering deeding your property to...
Estate Planning Humor
*Courtesy of Utah Bar Journal Read More →
One Major Advantage of Having a Living Trust
One often overlooked advantage of having a Living Trust is incapacity planning. ...
The Necessity of Capacity for POA’s and other Documents
Since Proviso Law Group focuses on preventive law strategies, I wanted to post an...
Choosing A Trustee For Your Living Trust
One key choice when setting up a living trust as part of your estate plan is the...
Property Tax Reassessment on Transfers
A very important issue to consider in your estate plan is the possible increase in...
I’ve Been Named as Trustee in a Living Trust, Now What?
As trustee, you will have fiduciary duties to carry out the terms of the trust. A...
Read More Posts From Estate Planning
Business Law
Necessary Agreements When You Start a Business With a PartnerToday’s Preventive Law Tip: If you are going to have a partner or a couple...
Dangers of Drafting A Contract Yourself
Today’s Preventive Law Tip: If you are going to draft your own contract,...
Employee Files- Another Reason to Put Everything in Writing…
My friend (we’ll call her Nancy) called me the other day because she recently...
Legalzoom vs. Attorney Services
I have encountered this question often, “what’s the difference between...
Two Legal Must-Haves For Starting An Online Business
Terms of Service (TOS) and a Privacy Policy/Agreement (PA) are two essential elements...
Corporate Compliance Recorder- Beware of Fraud!
A client of mine received a letter from the “Corporation Compliance Recorder”...
Avoiding Employment Claims… Part 1
Sometimes, as a business owner, liability issues may not be as apparent or pressing...
Read More Posts From Business Law