There will come a time when someone needs to take over (either because of illness or death). When that time comes, it can be helpful to divide the responsibilities between two or more successor trustees. For example, you may decide to have one trustee manage accounts and property and another trustee handle distributions to beneficiaries.
If you want to provide your loved one with an inheritance, while protecting them from estate tax and asset protection risks, a beneficiary-controlled trust may be right for you.
A trustee's work can be time-consuming and complicated. So, many people choose to hire a professional fiduciary to be their trustee. Sometimes this is a bank, a professional trust company, or an estate attorney. When looking to hire a professional to serve as your trustee, the following are several questions to keep in mind.
We often think that if we're careful enough, and draft an estate plan, our estate won't have to go through probate when we die. But sometimes, the unexpected happens. Here are seven reasons why an estate might have to go through probate.
