Life insurance, retirement accounts, checking accounts, and vehicles are some examples of assets that may be best left out of a trust.
Read MoreIf you have minor children, a will is essential because it provides for the appointment of a guardian to care for them if you die. However, a trust may also be beneficial in that situation because it will protect assets until the children are adults.
Read MoreWisconsin Code Chapter 701.19(2)(d) states that “a trustee may not sell individually owned assets to the trust unless the sale is authorized in the creating instrument, made with written consent of all beneficiaries, or made with the approval of the court upon notice and hearing.” However, it is important to note that the trustee is allowed to act based on the intentions of the grantor. There are some instances where the trustee may sell property.
Read MoreIf you are the beneficiary of money from a trust, you may wonder what happens next and what your obligations and requirements are once you receive the funds. As a beneficiary of trust funds, you do not want to make any mistakes in the handling of your newfound assets. It is helpful to understand the types of trusts so you know what taxes you must pay.
Read MoreThe death of a loved one is undoubtedly a stressful time in your life. After a relative passes away, the person’s trust will be reviewed and dispersed. A trustee is the person assigned to oversee the trust. Many people wonder whether a trustee can use his or her power to withhold money from a legal beneficiary. It is helpful to understand the role of a trustee and his legal responsibilities and obligations.
Read MoreWhile generally the trustee cannot make changes to the trust, there are circumstances where it may be possible.
Read MoreAfter a loved one passes away, it may be surprising and upsetting to find that the trust was not as you expected. When this happens, it is best to seek guidance from a reputable trust attorney.
Read MoreAn estate plan is the best way to provide for your loved ones after your death. It ensures that your property and assets get distributed according to your wishes and it also helps your family make important decisions. Here is a checklist to prepare for the creation of your estate plan.
Read MoreThe goal of any good estate plan is to provide an easy path for your loved ones and beneficiaries if you become incapacitated or upon your death. There are some essential elements that you should include in your estate plan.
Read MoreA will and a trust serve the same function: They provide for your family after your death. However, there are some differences that may make trusts advantageous in some circumstances. If you have substantial property and assets, it can be much more beneficial to your heirs to provide for them in a trust rather than […]
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