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Posts tagged "Trust administration"

What you should know if you're the beneficiary of a trust

Often when people use trusts to leave money to family in their estate plans, they don't designate specific dollar amounts. They will designate that whatever assets are in the trust at the time of their death be divided -- sometimes equally and sometimes not. If you're the beneficiary of a trust, finding out how much you'll receive may take some research -- and patience.

Do family members have to be told they received no inheritance?

Many of us have at least one family member we love but who has been lost to us due to alcohol and/or drug abuse or perhaps a series of bad life choices. When people are creating an estate plan, there are ways to set up a trust for someone like that so that they don't get money they'll only use to harm themselves.

Is a spendthrift trust a good choice for your child?

You and your spouse have worked hard all of your lives. You've given your kids everything they could have wanted and more. Unfortunately, because they've been so fortunate, they haven't learned how to properly handle money. Saving hasn't been a priority for them, nor has sticking to a budget.

Keeping your estate plan current is essential

Having an estate plan is wise for those who want to ensure that their wishes for the dispensation of their assets are carried out after their death. With an estate plan, you can also designate who will make decisions regarding legal, financial and health matters for you if you are unable to do these things for yourself.

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