You have created a trust. Now, how do you administer it?
You may already know about the advantages of a trust when it comes to avoiding probate, minimizing estate taxes and more. But if you are a new trustee, or are working with one, you may discover that there are many things that you did not know: such as, how do you...
What are the different types of trusts?
Trusts are an important part of estate planning. In addition to or instead of a will, they can make sure your heirs receive the right assets you plan on leaving them. There are many kinds of trusts, and each one acts differently.The first two are revocable and...
How the cy pres doctrine affects charitable trusts
A charitable trust is a special kind of trust that allows you to donate significant funds to a charity without diminishing your estate. Not only does the charity receive the benefits of the trust, but you and your heirs also receive significant tax benefits. You, as...
A spendthrift trust can protect your family if properly written
We all have them in our families: give them $100 and they spend $110 within an hour after you give it to them, usually on some extravagance that they don’t really need. One word for this type of person is spendthrift. And, whether a spouse or a child or other...
The importance of a special needs trust
Nevada residents may wish to know about a specific issue that many parents face when leaving assets to their children. When the parent has a disabled child, care needs to be taken in estate planning to avoid unforeseen consequences. Disabled Americans are often...
Revocable living trusts in Nevada
In Nevada, a revocable living trust is sometimes used as an estate planning alternative, particularly for probate issues that can't be solved with a will. Before deciding on using a revocable living trust, an individual should take certain factors into account. This...
A-B trusts in Nevada
While people may have heard of A-B trusts, they may not know what these trusts are or why they are used. These trusts are established by married couples in order to help avoid double-taxation after one spouse dies.A-B trusts are ones that are set up to split into two...
Learning about charitable trusts
Nevada residents may be interested in understanding more about the benefits and process involved with creating a charitable trust. These trusts allow individuals to donate significant funds to certain charities without diminishing the wealth held in personal banking...
Updating the terms of a trust that has already become irrevocable
Las Vegas residents with an interest in estate planning issues may be interested in an article detailing one method for updating a trust after it has become irrevocable. This method may have tax consequences, good or bad, so professional guidance should be sought....
Spendthrift trust creation in Nevada
At times, a person may want to leave a trust for the benefit of an intended beneficiary who, for whatever reason, is unable to control his or her own spending. In those cases, the person creating the trust may do so under the law by establishing a spendthrift trust....