Given how popular trusts are, there is a very good chance you will decide to incorporate one into your estate plan. In fact, you might choose to create a secret or semi-secret trust. For those who are unfamiliar with them, a Los Angeles trust attorney at Collins Law Firm explains the secret and semi-secret trust. The Last Will and Testament Most people are familiar with the concept of a Will. At its most basic, a Will is a legal document that allows the Testator (person … [Read more...] about Why Would I Need a Secret Trust?
A living trust is among the most common additions to an estate plan. A living trust can be used to help with a variety of estate planning goals, including probate avoidance, incapacity planning, and asset protection. If you are considering a living trust for your estate plan, you may be concerned about the cost of administering that trust once it is active. A Los Angeles trust attorney at Collins Law Firm explains typical costs involved in administering a trust. Trust Basics A … [Read more...] about Are There Expenses Involved in Administering a Trust?
Trusts are among the most common of all estate planning tools given the numerous and varied goals a trust can help you achieve within your estate plan. If you decide to incorporate a trust into your estate plan, you will need to appoint a Trustee to administer the trust. You may be tempted to appoint yourself as the Trustee. A Los Angeles trust administration attorney at Collins Law Firm discuss the wisdom of appointing yourself as the Trustee of your own trust. Trust Basics A trust … [Read more...] about Can I Be the Trustee of My Trust?
If your estate consists of significant assets, one of your primary considerations within your estate plan should be the impact federal gift and estate taxes will have on your estate after you are gone. One estate planning tool you may decide to use is an Intentionally Defective Grantor Trusts (“IDGT”). Because it may sound odd to create an intentionally defective legal document, a Los Angeles trust attorney at Collins Law Firm explains why you might want to create an IDGT. Why Would I … [Read more...] about Why Would I Create an Intentionally Defective Grantor Trust?