Currently viewing the tag: "beneficiary"

In Trusts We Trust: Day 51

January 30, 2012 by admin

Spendthrift Trust Spendthrift trusts are trust accounts that have an appointed trustee over them to oversee the distribution of the assets that are left after you have passed away.  The beneficiary of a spendthrift trust can’t spend the money in the trust until it has actually been distributed to them.   Assets that are held in […]

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In Trusts We Trust: Day 49

January 27, 2012 by admin

Special Needs Trust A special needs trust is a trust that provides supplemental assistance to a disabled person or a mentally disabled person.  Special needs trusts are not able to be used for support purposes, such as food and shelter.   One of the benefits of a special needs trust is that the beneficiary doesn’t lose […]

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In Trusts We Trust: Day 48

January 25, 2012 by admin

Simple Trust A simple trust is a trust where the trustee’s only duty is to distribute the assets to the beneficiaries according to the terms of the trust.  Simple trusts are aptly named, because they are in fact simple trusts to deal with.  They do not include charitable gifts and they do not include assets […]

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In Trusts We Trust: Day 43

January 18, 2012 by admin

Purpose Trust Like an Incentive Trust, in a Purpose Trust, assets can be held in trust for a particular purpose, like paying for a person’s education. What separates a Purpose Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to […]

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In Trusts We Trust: Day 41

January 17, 2012 by admin

Private Trust Over the course of the past forty days we’ve covered trusts from the A/B Trusts to the Personal Injury Trusts and everything in between. Today we’re covering Private Trusts; these are Trusts created for the benefit of one or more private beneficiaries; they are not Trusts that are created for the benefit of […]

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In Trusts We Trust: Day 40

January 13, 2012 by admin

Personal Injury Trust A Personal Injury Trust is any form of trust where funds are held by trustees for the benefit of a person who has suffered an injury. Personal Injury Trusts are also sometimes referred to as Special Needs Trusts.  A Personal Injury Trust is funded exclusively by funds derived from settlement funds which […]

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In Trusts We Trust: Day 39

January 13, 2012 by admin

Offshore Trust Offshore Trusts are also known as Asset Protection Trusts. These trusts are quite popular among the rich because they shield assets from creditors, from litigation, from bankruptcy and from divorce.  Many have been known to use them for tax evasion as well. When a person is really committed to personal privacy and asset […]

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In Trusts We Trust: Day 38

January 11, 2012 by admin

Living Trusts If you were reading the blog a couple of weeks ago, you’ll remember we covered Inter Vivos Trusts.  The phrase “Inter Vivos” is Latin; it means “Between the living.”  In the estate-planning world, Inter Vivos is assigned to gifts that are given during the lifetime of the person giving the gift. Here in […]

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In Trusts We Trust: Day 37

January 10, 2012 by admin

Incentive Trusts, Day Two What separates an Incentive Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to receive assets from the trust.  In this type of trust, specific language is put into the Trust that incentivizes a beneficiary to […]

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In Trusts We Trust: Day 36

January 9, 2012 by admin

Incentive Trusts, Day One What separates an Incentive Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to receive assets from the trust. Sure, like all Trusts, an Incentive Trust is a legally-binding legal tool in which a designated trustee […]

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