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A secret trust is a trust that is not included in the terms of a will. There are two types of secret trust’fully secret trusts, which are not mentioned in the will, and semi-secret or half-secret trusts, which are mentioned in the will. Semi-secret trusts usually do not name the trust’s terms or the trust’s beneficiary.
→ Read MoreA breach of fiduciary duty occurs when a trustee does not act with loyalty or care in their dealings with the trust and the beneficiaries. Read on for more information about breach of fiduciary duty by the trustee.
→ Read MoreAny time you or your any family members experience a major life change, you should consider updating your will. A “major life change” can include…
→ Read MoreWhen there is no will, the probate court appoints an administrator or executor (also called personal representative) to inventory assets, pay bills, and generally manage the estate.
→ Read MoreKeep in mind that you have several options for using a probate lawyer. You don’t necessarily have to turn the whole process over to an attorney. It may be enough to consult, get advice, or have an attorney review documents you have prepared. If you are unsure about the probate procedure or about the estate, you need to get legal advice, and you may decide to just let the lawyer do it.
→ Read MoreDividing your assets in your will, such as your home, car, furniture, bank accounts, stock, insurance policies, will minimize family meltdowns over distributions, especially if you are precise in your wording of your intentions.
→ Read MoreEstate taxes do not, by and large, affect the vast majority of Americans, but to those who plan to leave millions upon their death, it pays in spades to understand recent changes to federal estate tax laws so that you can avoid, or at least reduce, estate tax liability.
→ Read MoreAn incentive trust is meant to encourage or discourage the behavior of a beneficiary. For example, in the case of a rebelious child, a parent may use an incentive trust to encourage them to enter college by setting aside tuition. Incentive trusts take the guess work out of inheritances.
→ Read MoreA discretionary trust gives a trustee discretion, with some specified limitations. Discretionary trusts can be special needs trusts, help avoid creditors, or provide for a minor beneficiary.
→ Read MoreWhen someone’disclaims’ an inheritance, they refuse to accept all or part of it, whether it is money, real or personal property.
→ Read MoreFind the right lawyer for your legal issue.
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