Currently viewing the tag: "irrevocable trust"

In Trusts We Trust: Day 53

February 2, 2012 by admin

Tax By-Pass Trust Tax By-Pass Trusts are trusts that are irrevocable, meaning they can’t be changed once they are created, and the terms must be carried out.  In some cases where circumstances make carrying out the terms of the trust uneconomical or too difficult a court may step in to allow the terms to be […]

Continue Reading →

In Trusts We Trust: Day 47

January 25, 2012 by admin

Revocable Trust A revocable trust is a trust that can be changed at any time or canceled if the grantor desires. They are also referred to as living trusts, or revocable living trusts.  If you decide to change or alter your revocable trust, you will need to do so through a trust amendment, where you […]

Continue Reading →

In Trusts We Trust: Day 42

January 17, 2012 by admin

Public Trust A Public Trust is another name for a Charitable Trust. As the name implies, a Public Trust or Charitable Trust is an Irrevocable Trust established for charitable purposes.  This type of trust has one or more charitable beneficiaries, and may be set up during a donor’s life, or as a part of a […]

Continue Reading →

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 […]

Continue Reading →

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 […]

Continue Reading →

In Trusts We Trust: Day 34

January 6, 2012 by admin

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 […]

Continue Reading →

In Trusts We Trust: Day 31

December 30, 2011 by admin

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, […]

Continue Reading →

In Trusts We Trust: Day 27

December 26, 2011 by admin

Grantor Retained Income Trust (“GRIT”) As we continue on in our educational series on Trusts, today we cover Grantor Retained Income Trusts. A Grantor Retained Income Trust is a type of split-interest trust that can be used to move potential gain out of the grantor’s estate, thereby escaping higher taxes at time of death. On […]

Continue Reading →

In Trusts We Trust: Day 12

November 30, 2011 by admin

Charitable Trusts, Day Seven: The NIMCRUT We’ve been addressing Split-Interest Trusts recently; those are unique types of trusts that are established to benefit both charitable and non-charitable recipients.  These types of trusts would be a match for you if you have both philanthropic and family needs to attend to; if you both want and need […]

Continue Reading →

In Trusts We Trust: Day 11

November 29, 2011 by admin

Charitable Trusts, Day Six We’ve been addressing Split-Interest Trusts recently; those are unique types of trusts that are established to benefit both charitable and non-charitable recipients.  These types of trusts would be a match for you if you have both philanthropic and family needs to attend to; if you both want and need to care […]

Continue Reading →