contactTrust are often created in a person's lifetime in order to serve as a strategic way to avoid taxes and to manage wealth. They can therefore be extremely complex to manage, and although they are created to benefit the trustee, they can very easily go wrong.
What are the basics of a trust fund?
Trust funds are a great way to have a high amount of control over your wealth, and have the power to determine how it will be distributed over time. It can be preferable to a will in this sense, because you can control the time period in which the trust fund will be distributed.
Daughter faces eviction because of outdated will
Many people assume that as long as they have a will, then everything will be fine if they pass away. Unfortunately, a person's wishes may change drastically throughout the course of his or her life, and an old will may contain outdated directives — sometimes with devastating effects for the ones you love. Just such a situation arose recently because a mother neglected to update her will, posing a serious threat to her daughter and grandchildren.
Arizona may remove several national monuments
Who has the right to use a piece of land, whether by private citizens or by the United States government, came back into the news recently. Several Arizona congressmen authored a letter petitioning the White House to remove the national monument designation from four different areas of the state, opening them up for many possible uses.
Using trusts to protect your family from your debt
If you have significant debt, it is important to consider how this might affect your estate plan. In broad strokes, there is good news and bad news. The good news is that creditors are generally not allowed to pursue payment for debts from family members of deceased debtors, except for a spouse in some cases. The bad news is that without a proper plan to prevent it, your debts may eat up your estate before you can pass it on to your heirs.
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