Posts tagged "Trusts"

The life of a trust

Trusts are powerful estate planning tools that Californians can utilize to help bring their vision of the future into reality. In order to successfully do so, though, they must understand how trusts work and how to utilize them to their advantage.

Utilize trusts to protect wealth for your children

A common misconception amongst Californians is that estate planning is reserved for those who have reached the later stages of their lives. Although older individuals should ensure that their estate plans are suited to their wishes, younger people can and should utilize the estate planning tools at their disposal, too. Those who realize this often turn to a simple will to ensure that their bases are covered, but those who have children may be leaving their estate vulnerable by doing so.

A primer on the duties of the trustee

Laying out an estate plan is no easy feat. The challenges that often arise can come up in a variety of contexts, too. Those with blended families, young children, and a desire for asset distribution that is anything other than evenly divided amongst loved ones need to carefully consider how their estate plan is drafted to obtain desired results. While this may mean the creation of a will and a number of trusts, estate planning is about much more than just determining how one's assets will be distributed upon his or her death.

A few ways estate planning can allow one to avoid probate

A lot of estate planning is about avoiding the probate process. Probate is a court process through which an estate is handled after an individual's death. Through probate, an executor can be appointed for the purpose of identifying heirs and beneficiaries, paying off estate debts, and distributing estate assets.

Utilizing trusts to care for children with special needs

Raising children can be a challenging endeavor. This is especially true when a child has special needs. Depending on the condition at hand, a child with special needs may require extensive medical care and social support. These needs can be long-term in nature, which is why these considerations need to be taken into account when engaging in estate planning.

Important trust basics Sacramento residents need to know

Understanding the basics of trusts as estate planning tools can be crucial for California residents. Trusts are essentially agreements that dictate how assets will be managed and distributed to named beneficiaries. The creator, or grantor, of a trust can name a trustee to manage the trust. This trustee has a fiduciary duty, meaning that he or she must make decisions regarding the trust and trust assets that further the best interests of the trust's beneficiary.

Estate planning: consider utilizing accounts in trust

We've spent quite a bit of time on this blog discussing various types of trusts. These estate planning vehicles can serve an important purpose. They can allow an individual to leave assets to others with certain restrictions applied. There are oftentimes tax advantages to utilizing a trust, too. In order to pick the trust types that are right for an individual in his or her situation, it is important to carefully consider the options.

What is a blind trust?

There are a variety of trusts that can be utilized to fulfill the needs of an estate planner. Previous posts here have discussed a number of options, including irrevocable trusts in general, charitable trusts and generation-skipping trusts. There is another option: a blind trust.

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