A trust offers flexibility in estate planning, but life circumstances can change after its creation. Knowing how to modify or revoke a trust ensures that it continues to reflect the grantor's intentions. Revocable vs. irrevocable trusts The ease of making changes to a...
Trusts
Can a beneficiary withdraw money from a trust?
Understanding how trusts work is essential for beneficiaries who may need access to funds. Knowing your rights and the trust's specific terms can help you navigate this process. Understanding the role of the trustee A trustee manages the trust and is responsible for...
Frequently asked questions regarding marital trusts in Virginia
Marital trusts can be a valuable tool for estate planning, helping to manage and distribute assets effectively. These trusts offer a way to ensure your spouse gets taken care of while potentially reducing tax burdens. What is a marital trust? A marital trust, also...
What are some different types of trusts?
When it comes to managing assets, trusts offer a valuable solution. Trusts come in various types, each designed to cater to unique needs. Understanding the distinctions between these types can help individuals make informed decisions about their estate planning....
3 key reasons to consider a living trust
Planning for the future is an important aspect of securing your assets and ensuring your loved ones receive everything you intend. A powerful tool that many people overlook is the living trust. This legal arrangement offers numerous benefits and can serve as an...
Understanding how revocable and irrevocable trusts work
Creating a trust provides you with a place to put your assets so you can convey them to one or more persons or an organization such as a charity. However, your trust should offer you the kind of protection and benefits you hope for. You will need to decide whether you...
What Assets Should Not Be Placed Into A Trust?
To help your estate plans succeed, consider the right estate planning method to pass on your property. A trust can be beneficial to your family, but it is not always the best way to convey some assets to your loved ones. Kiplinger describes a few examples of property...
Evaluating the advantages of a special needs trust
If you have a family member who struggles with a disability, you could have a number of different issues to confront on a regular basis. From providing care to dealing with concerns about their future, these situations can generate stress, anxiety and uncertainty. It...
