If you have given thought to how you want to dispose of your assets in the event of your death, you could find yourself scratching your head and asking, “Do I need a will or do I need a trust? In fact, what are the main differences between wills and…
A trust is a legal arrangement in which a person called a grantor transfers property to a person named a trustee for the benefit of a beneficiary. While seemingly complex, trusts can provide better communication and clarity with the estate planning process. They also provide for periodic transfers of wealth…
Setting up a revocable trust or irrevocable trust is an effective estate planning strategy. Trusts can help you avoid probate and maintain privacy in the allocation of your property. However, trust disputes threaten to use up valuable resources that you have reserved for your loved ones. At Business Estate &…
You discover your parent made large gifts to a person that threatens your parent’s economic security. You learn an elder friend’s fiduciary (trustee, attorney-in-fact) performed acts that conflict with your friend’s personal or financial interests. If you believe a friend or loved one is a victim of undue influence, taking…
Imagine that you recently received notice that you are a trust beneficiary but the trustee refuses to provide you with a copy of the trust. Or perhaps you are a trustee, making good faith efforts to administer a trust, but one beneficiary keeps making unreasonable demands resulting in wasting trust…
A trust is a legal arrangement in which a person called a grantor transfers property to a person named a trustee for the benefit of a beneficiary. While seemingly complex, trusts can provide better communication and clarity with the estate planning process. They also provide for periodic transfers of wealth…
Sophisticated Estate Planning with GRATs Grantor retained annuity trusts (GRATs) provide a solid foundation for long-term estate and legacy planning. This financial instrument is a great way to minimize wealth transfer taxes and maximize the efficiency of your estate planning model. GRATs present a real and robust opportunity to freeze…
