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289 items found for "irrevocable trust"

  • Why You Need a Medicaid Planning Lawyer for Your Estate Plan

    Asset Protection Trusts Asset protection trusts are trusts created to protect your assets from being These trusts are irrevocable, meaning you cannot change them once they are created. They are typically created for the benefit of a spouse or children, and the trust assets are not counted Trusted Medicaid Planning Lawyer in Houston, Texas Medicaid planning is a crucial aspect of estate planning

  • You Bet Your Life There’s Value in Life Insurance

    For example, if the policies are not held in irrevocable trusts, then the proceeds are included in the

  • 4 Genius Ways to Avoid Probate in Texas

    Establish a Revocable Living Trust You can easily avoid probate in Texas by setting up a revocable living trust. With a revocable living trust, you have full control over your assets during your lifetime, and they Incapacity planning: A revocable living trust allows for the seamless management of assets in the event Protection against challenges: Revocable living trusts can help minimize the risk of legal challenges

  • What the Heck is a Pooled Trust?

    A Special Needs Trust can also be set up, but these are only for people under age 65. A good solution is to use a Pooled Trust. Unlike a Special Needs Trust, a Pooled Trust account can be created for a person with disabilities of Not all Pooled Trusts are managed the same. It all depends on the non-profit managing the trust. Do your research in finding the right Pooled Trust non-profit to set up and manage your account.

  • Do I really need an attorney to create a Will in Texas?

    that answer that you might not be expecting… There is no such thing as a one-size-fits-all will or trust The DIY will and trust companies do not adapt to the nuances that make your family unique. No one to turn to when the will or trust is executed. When it comes to creating a will or trust, you really do get what you paid for. Actually, if done incorrectly, that will or trust may not hold up during probate, in which case it is

  • Create a Revocable Trust to Help You Achieve your Estate Planning Goals

    If your estate plan includes a revocable living trust, start by examining the provisions for potential You can do this by adding a “credit shelter” or “bypass” provision to revocable trust documents. However, the trust can’t give him or her unlimited access to the funds. As a result, bypass trusts may no longer be needed to avoid federal estate tax. Reference: foster.com (January 17, 2016) “When to amend your revocable trust” #AssetProtection #Guardianship

  • Is a Living Trust for Me?

    “You should steer clear of ‘living trust mills,’ which hold themselves out as estate planning specialists A living trust lets you transfer assets to the trust and, if done properly, may transfer those assets A living trust is revocable, which makes it very flexible. have to stay in the name of the trust. Living trusts are very complex legal documents—one-size-fits-all doesn’t work.

  • Saints Owner Will Call Another Play in Fight Over Trusts

    Orleans Saints owner Tom Benson’s original proposal to remove team ownership from his estranged family’s trust t let Benson personally guarantee promissory notes he offered in exchange for Saints shares held in trust he intends to leave full ownership of the Saints to his wife Gayle and has been trying to revoke the trust The trust funds allow for assets to be removed, but only in exchange for other assets of equal value. With that arrangement, the trusts could try to seize Benson’s personal assets—including the controlling

  • Why Estate Planning Is Essential for Unmarried Couples

    Revocable Trust A revocable trust can be especially important for unmarried couples. By using a trust and skipping probate, your assets also remain private.

  • Houston Will Lawyer: Estate Planning Is About Creating Your Legacy

    A Houston will lawyer can also help you with setting up a family trust that can be used to further causes If you are unsure of how or why you should set up a family trust to create your legacy, definitely take

  • How Often Do You Need to Update Your Estate Planning?

    an adult Death or disability of someone named in the estate Death or disability of your executor or trustee A comprehensive estate plan may also include a revocable living trust . A living trust allows someone to take ownership of your assets while you are still alive and distributes With this type of trust, you would still be able to manage your assets while living. From creating or updating your will or helping to establish trusts , we are here to help with all aspects

  • Review Your Old Trusts

    However, as Kiplinger’s Retirement Report points out in “Old Trusts Create Tax Issues for Heirs,” estate tax laws have changed significantly since the time when many of these trusts were created. The problem for irrevocable bypass trusts is that assets in them do not receive the step up basis for laws are actually creating a greater tax burden now and they would be better off without the bypass trusts For example, in blended family situations, the irrevocable bypass trust may be the appropriate solution

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