Trusts
A fictitious legal entity that owns assets for the benefit of a third person (beneficiary). The grantor of the trust is the one who set up and gave money to the Trust. The trustee is the person charged with the safekeeping and distribution of the trust.
Top Related Trusts Topics:
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Frequently Asked Questions
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What Is Estate Planning?
Estate planning is a process to consider alternatives for, to think through, and to set up legally effective arrangements that would meet your specific wishes if something happens to you or those … more -
What is an AB Trust?
Many people are afraid that if their spouse passes away they will face a hefty tax bill. However, spouses can set up an AB trust. An AB trust is a type of irrevocable trust that while … more -
Does It Make Sense To Use An Attorney? Is It Expensive?
Only an attorney who regularly practices in the fields of wills, trusts, probate and estate planning is able to provide you with really sound legal advice as you put your estate plan into place. … more
Legal Articles
- How to Prove and Recover Damages for Trust Mismanagement
When a trust is created, the settlor, or creator of the trust, appoints a trustee who is legally responsible for administering the trust for the benefit of the trust beneficiaries. The trustee has a fiduciary duty to act in good faith and in the best interests of the beneficiaries. The trustee often has a lot of power. For example, it is the trustee who is responsible for investing … more - Establishing a Trust for Your Kids
Many parents want to provide for their children financially but may be reluctant to allow a teenager or young adult unfiltered access to the money. They may be concerned that a child or young adult may lack the maturity to make sound financial decisions. At the same time, the parents may want the money to be available for the child for things like education and healthcare. In … more
