Many estate plans today include trusts that become irrevocable upon the trustmaker’s death and continue for the benefit of a surviving spouse, children, or other loved ones. Some trusts are designed to span multiple generations. For example, a trust may leave an inheritance to a surviving spouse, then upon the surviving spouse’s...
Category: Trust Protector
Revocable Trust Do NOT Protect Against Lawsuits
Many people believe that once they set up a revocable living trust and change the ownership of their accounts and property from themselves as individuals to their trust, those accounts and property are protected from lawsuits. This is not true.
While trusts commonly protect a beneficiary’s inheritance, few trusts...
Ways a Trust Protector Can Help You
Trust protectors are commonly used in the United States. Essentially, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for a long period of time. Trust protectors ensure that trustees maintain the integrity of the trust, make solid distribution and investment decisions,...
Trust Fund Kids
When we hear the phrase “trust fund kid,” words like “entitled,” “privileged,” and “financially irresponsible” might come to mind. But another word we should associate with “trust fund kid” is “protected.”
What Is a Trust Fund Kid?
According to a Forbes article published in 2021 about...