There was a time when trusts were rarely used by the average person. Instead, they were the domain of the ultra-wealthy who used them to avoid taxation and to retain control of the family fortune as it passed from one generation to the next. Trusts have since become more “user friendly” and have evolved to the point where it is now common for the average person to be involved in a trust in one role or another. With that in mind, the Beverly trust attorneys at Legacy Care Law Firm explain several … [Read more...] about How Can a Trust Attorney Help Me?
Common Reasons to Update a Trust Agreement
Trust agreements are commonly found in a comprehensive estate plan. If you have established a trust agreement, you may need to update that agreement from time to time to ensure that the trust functions as intended. Toward that end, the Beverly trust attorneys at Legacy Care Law Firm explain several common reasons to update a trust agreement. Contact Beverly Trust Attorneys For more information, please join us for an upcoming FREE seminar. If you have additional questions about asset … [Read more...] about Common Reasons to Update a Trust Agreement
Why Should I Appoint a Professional Trustee?
One thing that all trusts have in common is the need to appoint a Trustee to oversee the administration of the trust. This is also where many people the mistake of appointing a spouse or close friend to the position without objectively considering the individual’s qualifications for the job. The North Andover trust attorneys at Legacy Care Law Firm explain why you might want to appoint a professional Trustee. What Does a Trustee Do? The overall job of a Trustee is to protect and grow the … [Read more...] about Why Should I Appoint a Professional Trustee?
What an In Terrerem Clause Can Do for You
Estate Planning practitioners field questions regarding disinheriting beneficiaries regularly. The second question often relates to what happens when that beneficiary or any other tries to have the estate plan or portions thereof overturned. An “in terrorem” or “no contest” clause usually acts as a deterrent to such beneficiaries by completing divesting them of their inheritance should they choose to initiate a lawsuit. Read on to learn more … [Read more...] about What an In Terrerem Clause Can Do for You
What Is a Funeral Trust?
Creating a comprehensive and successful estate plan requires you to consider a number of inter-related goals and objectives. Although your primary goal may be to ensure that your estate assets are distributed according to your wishes after your death, you may also want to focus on what will happen to you after your death. While most of us prefer not to spend too much time thinking about our own funeral and burial, doing so now may prevent several unwanted consequences later. The Salem trust … [Read more...] about What Is a Funeral Trust?
