Helping You Through Times of Change
Trust administration can be a complex and sensitive process, and it may involve significant assets and high stakes. As a result, conflicts can arise, which may lead to costly and lengthy disputes. If you are a trustee, what steps can you take to reduce conflicts in...
When it comes to estate planning, trusts play a vital role in managing and distributing assets. Two common types of trusts are revocable and irrevocable trusts. Understanding the key differences between these can help you make informed decisions about your estate....
When planning for your future and the financial security of your family, you might consider setting up a trust. However, trusts can seem complex if you are unfamiliar with them. You may have heard of a trustor and a trustee and wonder if both roles are essentially the...
Your pet is more than just an animal, they are your family. They are a living, furry confidant who has provided you joy like no other. Yet, have you considered what may happen to your animal companion if something unexpected happens to you? Few people do. In...
When creating their estate plan, many individuals believe that a will is sufficient to ensure their wishes are carried out after their passing. However, this is a common misconception in estate planning. While a will is an essential component of an estate plan, it is...
The fiduciary duty that comes with handling trusts requires trustees to act with competence and knowledge when performing their responsibilities. These qualities allow them to manage the trust properly and efficiently in the beneficiaries’ best interests....
A trustee must maintain a balance between skillfully managing a trust and maintaining a good relationship with the people involved in the trust’s administration. This includes regularly and clearly communicating the necessary information to the beneficiaries to allow...
In a trust, there are three roles involved: the grantor, the beneficiaries and the trustee. Among these positions, the trustee is responsible for managing the assets within the trust, making them have a fiduciary duty to the trust's owner and beneficiaries. A trustee...
A trustee has a duty to act in the best interest of the trust beneficiaries. However, sometimes the trustee does not meet this duty and needs to be removed from their responsibilities. Reasons for removal There are several reasons it may be necessary to remove a...
Wills and living trusts might seem like sound options to address issues concerning an individual's estate. However, some might exploit these needs and sell illegitimate estate planning products or services. One of the most common schemes scammers use is selling...
