What is an implied trust?
An implied trust is a financial arrangement that has the characteristics of a trust without the formalities establishing one. An implied trust may not be expressly defined as a trust in a will or othe...
Trusts
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Texas Wills, Living Wills & Living Trusts: An Estate Planning Guide
Several types of documents can be used in a Texas estate plan; wills, living wills, and living trusts are the most common....
Testamentary Trusts
A testamentary trust is a form of trust that is established in your will. Testamentary trusts will only go into effect upon your death. A testamentary trust can involve minor children or an incapacita...
Creating, Changing & Revoking A Florida Special Needs Trust
How does a special needs trust fit into someone's general estate plan' and how do you go about creating, changing or revoking this kind of trust? To find out, we asked Sarah E. Peart, an attorney fro...
Florida Estate Planning: Funding & Administering A Special Needs Trust
A special needs trust, created for the benefit of a disabled individual under the age of 65 who qualifies as disabled under federal law or a relevant state statute, can be a valuable estate planning t...
New York Supplemental / Special Needs Trust: Be Careful Of Medicaid’s Five Year Look Back Period
A supplemental or special needs trust is designed to either provide additional income for a special child or an individual who has special needs, according to Elliot Schlissel, a New York estate lawye...
What is a legacy trust?
Sometimes known as a wealth trust, a legacy trust is an irrevocable trust that lets you set aside assets for future generations. The legacy trust is a flexible asset protection and saving option that ...
Trustee Guidance: How to Distribute Trust Assets
One of the most important functions of the trustee is distributing the trust assets according to the wishes of the creator of the trust (trustor) as set forth in the trust agreement. With proper plan...
Inheritance Money: Using a Spendthrift Trust to Control Spending by Heirs
If you are worried that your child, grandchild or other beneficiary may be reckless with an inheritance'spending it down within a few months or years after receiving it'there are ways to provide for y...
What is a protective trust?
The term 'protective trust' is something of an umbrella term in the U.S., covering trusts that protect a person's estate and/or assets. A protective trust refers to a trust that is designed to make su...
What is a secret trust?
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 trus...
PostBreach of Fiduciary Duty by the Trustee in 2026 (Laws Explained)
A 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 b...
What is an incentive trust?
An 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 coll...
What is a discretionary trust?
A 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....
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...
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...
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...
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...
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...
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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