I don't want people to think that I'm obsessed with Michael
Jackson. I'm not. However, I am very interested in proper estate
planning, and I think that others should be too. The Michael Jackson case
is useful because it can show "ordinary" people what to do and what...
I must have missed the news yesterday, but thanks to Julie Garber's Wills and Estate Planning Blog I found out that Michael Jackson's Revocable Living Trust was posted yesterday at the News of the World site. As I have previously written , Michael Jackson had a "pourover" will that...
A previous Oast & Hook article discussed the different gifting options that are available for you. These included gifts of cash, appreciated property, and real estate. This article discusses the different gifting options that are available after your death. These options include bequests in either...
revocable trusts contain an Exhibit A stating that the assets listed on the
Exhibit A are part of the Trust. In many
cases, the Exhibit A only lists a token sum such as $100. In some states, a living trust is not valid
unless some asset has been transferred to it and the custom of listing a...
Trusts in community property states often contain a provision stating that
community property transferred to the trust by a husband and wife remains their
community property within the trust and that separate property transferred to
the trust by either spouse remains that spouse's separate...
Currently the Revocable Living Trust is the most popular type
of trust for estate planning. With the current estate tax exemption at 5
Million dollars, many have begun to ask if there is a need for such a
trust. More over the Revocable Living Trust provides no asset
Often the settlor of a lifetime
revocable trust is the only person who has an interest in the income and
principal of the trust during his or her lifetime. Sometimes the settlor of
such a trust is the sole trustee or serves with another. In other
circumstances, there are trustees other than the settlor...
What is the difference between a revocable trust that prevents your estate from going through probate, and a revocable trust that's just a stack of papers? The answer: funding your revocable trust . This is an essential step you must take once the ink is dry on your documents. Without proper funding...