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A living trust is an estate planning option that can make things easier for your family after you’ve died. This guide will take you through the process of creating a living trust in Texas ...
Don’t let the word “trust” intimidate you. In simplest terms, it’s a document that allows you to keep control of your money and property and designate who receives it once you die.
A trust generally involves three "persons" in its creation and administration: (A) a settlor or grantor who creates the trust; [11] (B) a trustee who administers and manages the trust and its assets; and (C) a beneficiary who receives the benefit of the administered property in the trust. In many instances where a revocable living trust is ...
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
Governing doctrines. Pour-over will; Cy-près doctrine; Hague Convention (conflict law) Application in civil law; Dishonest assistance; Estate administration
However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...