When someone dies, they often leave behind assets that must be disbursed and debts that must be paid. The process by which this happens is probate. It is a court-supervised process by which these tasks are handled in accordance with the law, with the ultimate goal of achieving fairness in the distribution. The process occurs…
When a trust is made irrevocable, either through the death of a settlor (the person who created the trust) or through expressed language in the trust agreement, the trust generally cannot be unilaterally amended or modified. However, this doesn’t mean that if the trust is no longer serving its original purpose, you are stuck with…
The answer is not as easy as yes or no (of course, it involves attorneys right!). As you may know, the trustee of a trust serves in a fiduciary position in which they manage the trust. The role is different than a beneficiary who receives the benefit of the assets held in the trust (for…
You will often hear of talk about why you should take steps to avoid having your estate end up in probate court being divided and distributed by the approval of a judge. Those with the knowledge of how this process works will be the ones leading the charge when it comes to avoiding probate. And…
We have spoken extensively in this blog about the importance of establishing a trust to ensure the disposition of your estate is done in accordance to your wishes. Employing a trust as your tool for distributing your estate is by far the easiest method of managing your affairs. But what does that all look like?…
When a person creates a trust, they are referred to as the trust grantor. A grantor may set up their trust for an infinite number of reasons. This is what makes a trust so exciting because it can work to accomplish nearly every goal you have with your estate. It can be used as a…
