Living Trusts

Find the latest news on living trusts, asset protection, probate, estate taxes, trustees, and more.

Jun 1, 2011

Setting up a living trust can help distribute individual wealth to an organization charged with taking care of an individual's assets. These assets are then divided into gifts of money that have specified recipients, often as charitable donations.

Jack Malcom had set up a living trust in order to help him distribute the remains of his estate, valued at over $1 million, to his favorite local organizations.

May 12, 2011

Many business owners have a lot on their plates these days, with the economy struggling and consumers barely beginning to spend again.

However, one thing that owners of family businesses should keep in mind is how to ensure that the company is passed on to one's children and ultimately stays in the family, reports the Naperville Sun.

According to the news source, living trusts are among the most common documents that business owners look to in order to successfully transfer the company to their family members.

Apr 29, 2011

Norbert Stein, a landlord who purchased a number of homes in south San Diego County, California, during the 1960s and 1970s, recently added a provision in his living trust that gives a home to a struggling tenant.

The San Diego Union Tribune reports that the 98-year-old butcher lowered the tenant's rent previously due to financial and health problems, but recently decided to simply give the house to the struggling contractor.

"I only paid $22,500 for it years ago," Stein said. "It’s an old house.

Apr 12, 2011

The purchase of a 17-acre portion of land from a living trust by the city of Rochester, New Hampshire, could give local residents more access to water, reports Foster's Daily Democrat.

According to the news provider, the Rochester City Council recently allowed City Manager Bob Steele to enter into an agreement with the Allain-Feuer Family Revocable Living Trust for the land that surrounds Round Pond in Barrington.

Mar 30, 2011

At a recent Green, Ohio city council meeting, legislation was passed to approve the city's purchase of five acres of land from the Joseph R.