The Trust Document is Signed — Now what?
The signing of a Trust document is the start of a new process. A Trust isn’t just a “form.” It’s a legal structure with real consequences that has to be handled carefully in order to assure that the trust creator’s purposes can be achieved. If the Trustee uses the Trust’s funds in ways that aren’t...
Trust Reformation? What’s that?
Trusts are prepared with an eye toward longevity. A trust is designed to protect assets for benefit of a beneficiary, both now and for the future. The Trust will specify who will manage it now (the Trustee) and will typically contain a list of successor trustees who can step in later if necessary, and a mechanism for someone to appoint a successor Trustee if there ever is an unfilled vacancy....
What’s a Trust? and Who’s who?
Oftentimes, a client will come to talk to me and say “I want to put my assets into a trust.” My question of course is, What are you trying to accomplish? Who suggested it?What do you think a trust is?” Sometimes the answer is, “so my assets don’t get spent on a nursing home.” Often the client says,”I don’t want my assets to be spent on a...