When people think of trusts for estate plans, they often picture those with multi-million-dollar estates. However, trusts are useful tools for those who have far more average household incomes. Middle-class Americans may feel surprised to learn that trusts can be...
A trust is a legal and fiduciary arrangement that lets a third party hold assets for the good of one or more beneficiaries. As a separate legal entity, assets put into the trust belong to it, not to the trustee. The management of the trust's assets should be handled...
For couples in their 20s and 30s, estate planning is often the last thing on their mind. Even if they have children, they often assume that they won’t have to worry about putting together a will, advance directives, powers of attorney and so forth until they’re at an...
Texas estate plans often include trusts with an individual named specifically for administering the contents. Managing a trust requires significant time and commitment, and a trustee has a broad range of fiduciary responsibilities. If a loved one appointed you as...
When it comes to estate planning, a will is only the beginning. Many people should also consider implementing a trust, which can safeguard your assets and ensure your final wishes are carried out after you are gone. As explained by CNN Money, there are many trusts to...
Going through trust litigation after someone they love has passed away is not something that people will look forward to. This process can cause relatives to go at each other’s throats, and this can be highly stressful. No one wants to have to deal with arguments and...
Trust litigation can be a challenging process when it involves family members attempting to gain a trust without consent of others in the family. This can be a scenario that’s devastating to you if you have a sibling who’s done this without letting you know as means...
Trust litigation battles can not only be expensive and time-consuming; they may also lead to lasting damage in relationships between family and friends and expose private family problems to the public. In general, it’s preferable to find a way to resolve...
Trust Beneficiaries are broken into two large categories, income beneficiaries and contingent beneficiaries. Frequently the interests of these two groups of individuals will differ early and often. Much is the case with a phone call I received recently. A potential...
Each week, The Houston Chronicle runs a column entitled “State Your Case,” where local attorney Ron Lipman answers 4 or 5 questions from readers regarding various legal subjects. Recently, Lipman devoted the entire week’s column to estate planning and probate...