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A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Your house might be your single most valuable financial asset. So you want to make sure you can give it to those you love when you die, without giving up the farm. That can be tricky.
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.
Use it to fine-tune the variables, including how much to give, how it changes your tax picture, how your cashflows are impacted, and how much is left to heirs.
An appellate judge dubs probate court ‘the Unhappiest Place on Earth,’ as Disney heir Bradford Lund has lost an appeal stemming from his fight to claim his fortune.
For nearly 15 years, James Brown’s estate has been one of the most contentious legal cases in the entertainment industry, involving volleys of lawsuits among his children, his former romantic partner and its various administrators.
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
If you do not learn from your mistakes, you are doomed to repeat them. In Estate Planning, if you do not learn from other’s mistakes, you are likely to repeat them.
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