Trusts are legal creations designed to protect assets and distribute them over a period of time under certain conditions. The trust is created by a grantor, who initially owns the property, for beneficiaries, who eventually receive the assets. Therefore, trust distributions are an essential part of the operations and management of any trust. Trusts may […]
What Is a Preliminary Trust Distribution? Read More »
Helping a parent or loved one who has dementia is always a challenging task. Considering and executing an estate plan for someone with a diminished capacity has an added element of difficulty. Depending on your loved one’s individual case, they may lack the legal ability to execute and sign vital estate planning documents like wills
The Trustee’s Guide to Dementia and Incapacity Read More »
If you have questions about how the trustee of your family trust is acting, you may want to consider having them removed. However, removing a trustee can be a costly and challenging process. Once appointed, trustees have numerous rights and responsibilities. However, they typically do not have the right to quit being a trustee without
How Is a Trustee Removed? Read More »
A trust is a legal creation that gives one person a right to benefit from an asset while it is held by another person. The second person creates the trust by granting the right in the asset or property they own. This person is referred to as the “grantor.” The grantor can also name someone
How Is a Trustee Appointed? Read More »
Creating a revocable living trust is an important step in comprehensive estate planning. Typically, you will act as the trustee and ensure your assets are handled competently while still alive. Then, when you pass away, your designated successor trustee will manage and distribute the trust’s property. When you appoint your successor trustee, you should choose
How Do You Terminate a Trustee? Read More »
A trustee is an individual who administers a trust on behalf of the beneficiaries. Trustees are responsible for managing trust assets, including maintaining the property and making sure it is productive – i.e. generates income or profit. However, a trustee’s job can be challenging and downright impossible if they don’t have the skills or expertise
Who Has the Power to Remove a Trustee? Read More »
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