Common Types of Trusts
Trusts fall into two categories; revocable and irrevocable. Revocable trusts are often called living trusts, and they can be canceled or revoked at any time. Irrevocable trusts are permanent, once created and funded they cannot be canceled or modified.
Revocable Living Trusts
These common trusts are normally used to avoid probate. [...]
Preparing for a Living Trust lawyer’s visit
So you’ve decided to execute a living trust - that’s good. Here are some things to consider before you visit an attorney to draw up the documents.
If you do not have dependent children the process is fairly simple. The lawyer will interview you to establish the successor trustees (who do you trust to [...]
Avoiding Probate with a Trust
If you haven’t heard yet - probate is difficult and expensive. Probate can take a year or more to settle with probate fees sometimes charged as a percentage of the assets. The standard estate plan seeks to avoid probate by establishing a living trust. A trust is usually drawn up by a lawyer, and has [...]