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is also known as an “IRA trust,” an “IRA stretch trust” or an “IRA protection trust.” conduit-trust language and that the wording of the beneficiary designation is correct to take advantage Your estate planning attorney can help you decide if the trust should be a conduit or an accumulation trust. The RMDs have to be distributed to the beneficiary in a conduit trust, but with an accumulation trust

If you have been asked to serve as trustee for someone’s trust, it is your responsibility to successfully Read the trust- The trust will have all the information you need to carry out the wishes of your loved it is important to always think of their interest when it comes to the trust. that you should not borrow money or lend money to anyone from the trust. Invest trust funds prudently and productively – For this step we strongly suggest that you consult with

Here’s a rundown of revocable or irrevocable trusts, credit shelter trusts, generation-skipping trusts Revocable Trusts Also known as a revocable living trust, this trust lets you manage your trust during Irrevocable Trusts This is the opposite of a revocable trust. Credit Shelter Trusts This trust can help wealthy married couples lower their estate taxes by maximizing Generation-Skipping Trusts This trust is established for the benefit of your grandchildren, as opposed

However, today, more and more people are turning to individual retirement trusts as a way to plan for an IRA and the long-term control that comes with a trust. How Do I Set Up a Retirement Trust? If you have questions about individual retirement trusts, you need to consult a professional attorney #Retirement #retirementtrust #trust #Trusts

As a Harris County will and trust lawyer, I realize that those of us in the estate planning industry Wills and Trusts are key documents that do essentially the same thing, in theory. Cons A living trust can be more expense to set up initially. You will also have to transfer ownership of all assets that are placed in the trust. You cannot create a guardian for your children in a living trust.

, GST trusts, or dynasty trusts. Once the trust is funded and the exemption applied, any future appreciation in trust assets is allocated to the trust beneficiaries directly. If it’s an irrevocable trust, you won’t have to pay GST tax even if the value of the trust assets increase Speak with an experienced trust attorney to set up a trust and take best advantage of the generation-skipping

trust assets. Don’t hesitate to reach out if we can answer any questions or provide a free trust consultation. bypass trusts. Consult a Texas estate planning attorney to craft a personalized trust providing the benefits you seek with trust administration, we offer complimentary initial consultations.

What is a Special Needs Trust? your child; instead, they are owned by the Trust and managed by a Trustee of your choosing who will How may the assets in a Special Needs Trust be spent? Pooled Trusts are typically run by non-profits. #SpecialNeedsTrust #Trusts

Benefits of a Revocable Living Trust A revocable trust can be a valuable tool for managing and distributing By transferring assets to a revocable living trust, you can avoid probate for the trust’s assets. over the trust’s assets. manage the trust’s assets. assets to the trust.

Types of Special Needs Trusts There are three main types of Special Needs Trusts. Needs Trusts Pooled Trusts First-Party Special Needs Trusts A First-Party Special Needs Trust is funded Pooled Trusts Pooled Trusts are managed by nonprofit organizations. This outlines the terms of the trust and designates a trustee. Next, you need to fund the trust. Contact us  today for a consultation.

Misconception 1: Trusts Are Only for the Wealthy Many believe trusts are only for the ultra-rich. from creating trusts. Misconception 6: Trusts Are Only for Old People Trusts can benefit people of all ages. Misconception 8: Trusts Are Irrevocable While some trusts are irrevocable, many are not. Contact us today to schedule your consultation.

What Is a Trust? Before placing any asset in a trust, consult with an attorney about how the transfer might affect taxation Once you have decided that certain assets belong in a trust, the next step is to create the trust. a trustee), the individuals who will receive the trust assets at the specified time (the trust’s beneficiaries ), and instructions for distributing trust assets to beneficiaries (the trust agreement).