What Happens to a Living Trust After Death?
If you’re looking to protect your assets and support your children financially, you’re probably considering creating a living trust. Due […]
What Is a Survivor’s Trust?
Parents care deeply about their children, saving up money for college and taking steps to leave behind an inheritance. Part of financial planning involves anticipating potential tax burdens. For example, a 20% tax on just $300,000 would be $60,000. Some married couples set up a survivor’s trust to avoid such exorbitant tax rates. What is a survivor's trust and what are the benefits?
Can a Beneficiary Refuse a Trust Distribution?
A great deal of thought goes into designating who inherits your assets. Furthermore, establishing a trust to protect your beneficiaries’ best interests is often a complex endeavor. At AmeriEstate, we want to ensure you have the information and tools you need to safeguard your assets for the future.
What Is Trust Administration?
A trust is a legal arrangement establishing parameters for the distribution of your estate after you pass. It also ensures your end-of-life wishes are followed and sets up who will handle your financial and medical affairs if you cannot do so. If you set up an irrevocable trust, you are the grantor and will probably choose a trustee to manage the trust.
Webinar Replay – How to Settle a Living Trust When a Loved One Passes Away
This webinar discusses what happens when your loved one passes away and how the administration of a trust requires a personal representative to follow several steps to distribute and take care of the assets on behalf of the beneficiaries. While this is not an easy task, it can be managed properly. We explain the process of dissolving a trust and the steps that need to take place.
What Are the Main Purposes of Trusts?
A trust is a legal document created for the benefit of your designated beneficiaries. Two types of trusts, revocable and irrevocable, serve different purposes including avoiding probate, reducing taxes, keeping information private, but probably the greatest benefit of a trust, is that it gives you peace of mind knowing that you have provided for your family members and others exactly the way you want to.
The Importance of Changing Your Bank Account Title to the Name of Your Trust
Putting your bank account title in the name of your trust is vital if you wish those funds to held in the trust. You create a living trust and fund it by placing assets into it. Your bank being one of those assets. But how do you go about transferring your chosen accounts into your trust?
What Is an Empty Trust and What Problems Will it Cause?
When you set up a trust for your benefit or the benefit of one or more of your loved ones, that’s only the first step you need to take. The second step is to properly fund the trust. This doesn’t happen automatically. You need to be proactive.
Final Trust Administration: About AmeriEstate’s Process
Dealing with the death of a loved one is extremely difficult, whether the family expected the death or not. We at AmeriEstate understand how sensitive this time can be for families. Often, one of the last things that you may want to do is go digging through the legal and financial complexities of your deceased loved one's life. However, survivors often have to make critical and time-sensitive decisions directly in the aftermath of a loved one's death.
Death of a Spouse: The Case of Fred and Julie Sampson
The idea of losing your spouse to death may be very painful. However, death is a reality of life and you must take all possibilities into consideration when attending to your estate plan. This is especially salient if your partner is ill or it is otherwise apparent that he or she is likely to die before you do.