Currently viewing the tag: "beneficiary"

In Trusts We Trust: Day 35

January 7, 2012 by

Life Insurance Trust A Life Insurance Trust is often chosen because it allows a grantor to exclude their life insurance from their taxable estate.  In addition, a Life Insurance Trust, can assist your heirs by providing them with an immediate influx of un-taxable cash, as well as helping to pay estate fees.  The proceeds from […]

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In Trusts We Trust: Day 34

January 6, 2012 by

Irrevocable Trust As you might guess from the name, an Irrevocable Trust is a legal instrument that cannot be altered, changed, modified or revoked after its original execution. In contrast to a Revocable Trust, which can be changed at will, an Irrevocable Trust is iron clad; once the grantor funds assets into the Trust, there […]

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In Trusts We Trust: Day 33

January 5, 2012 by

Implied Trust An Implied Trust is a Trust that arises by inference; the trustor’s intentions are speculated upon, and using the trustors conduct, actions, words, relationships, etc., a conclusion is drawn.  First, however, an intention on behalf of all concerned parties to create a Trust in the first place has to be reasonably proven to […]

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In Trusts We Trust: Day 31

December 30, 2011 by

Inter Vivos Trust 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. What’s the difference between an Inter Vivos Trust vs. Testamentary Trust?  Inter Vivos Trusts are set up during lifetime, […]

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In Trusts We Trust: Day 30

December 29, 2011 by

Implied Trusts Today we’ll cover Implied Trusts, which are generally the result of litigation over misused assets or assets that have been absconded with. An Implied Trust is a legal arrangement that has the characteristics of a trust without the formalities establishing one. An implied trust may not be expressly defined as a trust in […]

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In Trusts We Trust: Day 28

December 27, 2011 by

Grantor Retained Annuity Trust (“GRAT”) A Grantor Retained Annuity Trust, like yesterday’s Grantor Retained Income Trust is another type of split-interest trust that can be used to move potential gain out of the grantor’s estate and thereby escaping higher taxes at time of death. Essentially a Grantor Retained Annuity Trust is an estate-planning tool that […]

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In Trusts We Trust: Day 26

December 23, 2011 by

Grantor Trusts, Day Two For the past twenty-four days, we’ve been covering Trusts. While there are hundreds of different techniques you could use to protect your assets, we believe that one of the most financially sound ways to protect your assets is by setting up a trust. Today we’re covering what is known as Grantor […]

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In Trusts We Trust: Day 23

December 21, 2011 by

Express Trusts When a person uses the term “Trust,” what they are typically referring to is an Express Trust. An Express Trust is a deliberately created legal tool that is executed by a grantor to exercise his powers of ownership over his assets.  An Express Trust refers to Trusts that are specifically created by the […]

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In Trusts We Trust: Day 14

December 2, 2011 by

Constructive Trusts To understand a Constructive Trust, we must first understand that a constructive trust is not a trust, in the typical sense.  Typically a trust is an estate-planning tool into which the grantor has titled their assets, and an appointed trustee has duties of administration enduring for a substantial period of time.  A Constructive […]

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In Trusts We Trust: Day 3

November 17, 2011 by

Asset Protection Trusts, Part One 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.  There are Foreign Asset Protection Trusts—think Switzerland, The Cook Islands, and Belize—and there are Domestic Asset Protection […]

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