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What is a bare trust?

A bare trust is generally known as a trust in which the person receiving property, the beneficiary, is entitled to the income and the capital of the trust. The income is the amount that the property e...

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No-Contest Clause: Why Have One?

In an effort to ensure their wishes are met and avoid disputes among family members a person may include what is called a no contest clause in a will or living trust document. The no contest clause is...

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Deeding a Home to Your Kids

Putting a child's name on the deed in any manner' by transferring the home to the child outright or making the child a co-owner (whether as a'tenant-in-common' or a'joint tenant with right of survivor...

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What is a QTIP trust?

A qualified terminable interest property trust (Q-Tip Trust) is a marital trust for which a federal estate tax election can be made so as to qualify the trust property for the marital deduction. A Q-T...

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How do I change a living trust?

A living trust is a trust established during the life of a person. All assets are deposited into the trust and removed from the possession of the original owner. This allows the owner to avoid probate...

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Would a trust be better than a will?

The question of whether a trust be better than a will has no simple answer since so many factors must be considered in estate planning. Your decision is personal and individual, and must suit your par...

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What is a standby trust?

A standby trust is created during your lifetime, and at the time of your death, the property in the standby trust is transferred according to the directions in your will. One of the reasons it is call...

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Simple Will

A simple Will provides for the outright distribution of assets for an uncomplicated estate and can be done on an easy form from a stationery store, a book, or from a reputable legal document website....

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What is a disability trust?

Disability trusts, or qualified disability trusts, are created for the purpose of caring for a disabled person in the event of their caretaker's death. Qualified disability trusts offer added benefits...

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How to Create a Special Needs Trust: What to Include

A Special Needs Trust (SNT) is a unique document individually prepared for the benefit of a disabled beneficiary under the age of 65. This article explains the types of information required in this tr...

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Planning for Your Disabled Child in Your Will

While routine estate planning can be daunting, planning for the care of your disabled child after you die can be a nightmare, and leaving an inheritance to a disabled child can create more problems th...

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Settling Smaller Estates: A Simpler Procedure

The only time the probate process may be quick, is when the gross value of the estate is relatively small. This shorter probate process is called by different names in different states; every state's ...

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Family Business & Your Estate

Many estate-planning tools can be used to transfer your business, but selecting the right one will depend, in part, on whether you plan to retire and let someone else run it for you, sell it, give it ...