Living Trusts

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

Oct 15, 2010

Grayson County College's Center for Workplace Learning is offering an Elder Law Boot Camp in order to help those over the age of 50 to understand specific end-of-life issues, including living trusts.

According to the Herald Democrat, the camp will be presented from 6:00 to 7:30 p.m. during three separate sessions on October 18, 19 and 21.

Oct 7, 2010

For those who have created living trusts, it is important to keep them updated to ensure that they function as desired and adapt to certain legislative changes.

One such change will occur on January 1, as the federal tax law will go from no estate taxes in 2010 to 55 percent taxes due on all transferred assets after a $1 million exemption, the Richmond Times-Dispatch reports.

As a result of this legislative change, people may want to consider rewriting their wills or living trusts, the news source says, to avoid leaving one’s beneficiaries with an extremely large tax ob

Oct 7, 2010

When preparing for one's later years, it is important to take into consideration one's financial status as well as one's current state of health.

While a will can divide up one's possessions after death, it will ultimately be considered by a probate court, making the papers public. Unhappy family members can also contest the will during this process, according to the Detroit Free Press.

Thus, a living trust can have a specific, significant value for someone planning for their later years.

Sep 21, 2010

The amendable and fluid nature of living trust agreements can be a double-edged sword for those making estate plans, Liza Horvath of the Monterey County Herald reports.

While the fact that these documents can be drafted and amended at any point can help meet a family's changing economic status or philanthropic interests, Horvath says that a revocable living trust can be subject to undue influence of unscrupulous individuals.

While most living trusts state that changes cannot be made if the truster becomes incapacitated, the fact remains that individuals looking to benefit imp

Sep 7, 2010

When deciding to create a revocable living trust, it is important to ensure that it is properly funded by transferring most of one's property, including one's home, according to a recent Yuma Sun article.

Settling on a revocable living trust is an option for couples because it allows them to avoid the hassle of probate and enable them to handle their affairs in a private manner if one of them dies, the news provider said.

But while taking this step is important, it is necessary to ensure that most property is titled into the trust.