A trust agreement is one of the most popular of all estate planning tools due in large part to the flexible nature of a trust. For those who are contemplating the addition of a trust into their estate plan, the Salem trust attorneys at Legacy Care Law Firm discuss five things you need to know when creating a trust. Your stated trust purpose guides the administration of the trust you create. It is important to understand that defining your trust purpose with as much specificity as possible … [Read more...] about 5 Things to Know When Creating a Trust
Estate Administration – Will vs. Trust
For most people, an important reason to create an estate plan is to ensure that their assets are distributed according to their wishes after they are gone. If that is one of your goals, you need to consider how your estate will be administered during the probate process when the time comes. Specifically, you will need to decide if you want to use a Last Will and Testament or a Trust as the primary method of distribution for your assets. To help you decide, the Salem estate administration … [Read more...] about Estate Administration – Will vs. Trust
