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In Trusts We Trust: Day 55

February 3, 2012 by

Totten Trust Totten Trusts were named after a famous case in 1904 that established the ability to designate a beneficiary on an account and have the account paid to the beneficiary upon death.  This kind of arrangement is also known as Transfer on Death or Pay on Death (“TOD” or “POD.”) A Totten Trust is […]

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In Trusts We Trust: Day 27

December 26, 2011 by

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 […]

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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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