Frequently, families want to protect their life’s work for their descendants. Among the options are asset protection trusts. However, to truly provide asset protections, the trust must be irrevocable. Irrevocable means the parent must give up control of the assets...
Adapted from ElderCounsel There are many good people in the world. Some strangers would give you the shirt off their backs. Many folks volunteer their time to help others in need. Especially in our tumultuous times, it is important to be kind and generous to our...
What is Probate? Probate is the legal settlement of someone’s money and property, known as their estate, after they have passed away. The court will begin the process by validating the will if there is one. Then the court will divide your estate to your creditors,...
The trustee is the person responsible for the management of a trust. He or she has a duty of loyalty, known as a fiduciary responsibility, for the beneficiaries of the trust. This places a legally enforceable standard of care on the trustee. The trustee must Protect...
Benefits The benefit of a Trust is to protect your family and assets, and to ease the process of settling your estate. A Trust is simply a set of instructions. The instructions explain what you want to happen with your estate for beneficiaries, debts, and taxes. It...
