Ads
related to: family trusts for dummies- Estate Planning Guide
Wills? Trusts?
What do you need?
- 13 Retirement Blunders
Retire at ease, avoid these errors.
Blunder #9: buying annuities.
- 8 Major Investor Mistakes
Learn the 8 biggest mistakes
investors make & how to avoid them.
- 401(k) and IRA Tips
Learn the differences.
Is it time to rollover your 401(k)?
- Estate Planning Guide
lawdepot.com has been visited by 100K+ users in the past month
Search results
Results From The WOW.Com Content Network
A family trust is an estate planning tool that can preserve your family's wealth across generations. Here's how they work and how to set one up.
Family trusts are meant to live beyond the grantor's life. A family trust has an extended lifespan that enables it to distribute assets based on designated milestones (ie., marriage, having children).
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]
Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
A testamentary trust provides a way for assets devolving to minor children to be protected until the children are capable of fending for themselves; [3] A testamentary trust has low upfront costs, usually only the cost of preparing the will in such a way as to address the trust, and the fees involved in dealing with the judicial system during probate.
Wills make the probate court process more efficient, which is often appreciated by the deceased's family. Trusts go further by skipping probate entirely for any assets held within.
Ad
related to: family trusts for dummies