Creditor Protection Trust
Creditor Protection Trust When looking into estate planning there are some who are hoping to get a creditor protection trust. Unfortunately, some do not realize all that is entailed in setting up one successfully. In this article, we will go over how to set up a creditor protection trust properly so you can protect your assets. How a Creditor Protection Trust Works A successful creditor protection trust should be an irrevocable trust. An irrevocable [...]
Veterans Asset Protection Trust
Veterans Asset Protection Trust A Veterans Asset Protection Trust is a special type of trust that allows a veteran to protect their assets and qualify for veteran benefits. In this article, we will go over the basics of setting up a Veterans Asset Protection Trust and how they work. How It Works A Veterans Asset Protection Trust is a type of irrevocable trust. You, as the veteran, create the trust. You will also need [...]
Types of Deeds
Types of Deeds A deed is a legal instrument that conveys the title of real property between parties. There are several types of deeds that can allow you to do so. In this article, we will go over three types of deeds and the purpose they serve. General Warranty Deed A general warranty deed will provide the grantee with the highest level of protection. With this type of deed, the grantor provides several guarantees, [...]
Charitable Lead Trust
Charitable Lead Trust A charitable lead trust is a type of irrevocable trust. In the proper circumstances, they can help you to reduce your tax liability, provide for loved ones, and support charity. In this article, we will discuss how a charitable lead trust works. Purpose The purpose of a charitable lead trust is threefold. The main purpose is to help with gift and estate tax planning. This type of trust may also be [...]
Charitable Remainder Trust
Charitable Remainder Trust A charitable remainder trust can be a powerful estate planning tool. In the right situation, it can provide you with many financial benefits. In this article, we will go over the basics of charitable remainder trusts so you can determine if one is right for you. The Basics A charitable remainder trust is a type of irrevocable trust. It allows you to provide for yourself or a beneficiary and charity. A [...]
Ancillary Probate
Ancillary Probate Ancillary probate is a type of secondary probate that some may find necessary. In this article, we will go over what an ancillary probate is and how they work. What is an Ancillary Probate? An ancillary probate is a secondary probate proceeding. This is in addition to a primary probate proceeding. One is necessary when a decedent owns real estate or other titled property (i.e. car, boat, or trailer) in a state [...]