Currently viewing the tag: "trusts"

In Trusts We Trust: Day 53

February 2, 2012 by

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 […]

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In Trusts We Trust: Day 50

January 28, 2012 by

Special Power of Appointment Trust A Special Power of Appointment Trust is a trust where the donee can only choose appointees from a certain class of people.  The appointees can be over only certain parts of the property or over the entire trust.  In a Special Power of Appointment Trust, the donee can’t appoint themselves […]

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In Trusts We Trust: Day 40

January 13, 2012 by

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 37

January 10, 2012 by

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

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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In Trusts We Trust: Day 32

January 3, 2012 by

New Year Recap For the past six weeks we’ve been delving deeply into the world of Trusts.  Stick with us in the New Year and you’ll be one of the smartest, most informed people you know! We’re continuing on where we left off; for the next few weeks we’ll continue the series.  In case you’re […]

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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 20

December 12, 2011 by

Dynasty Trusts, Day Four For the past several days I’ve been covering Generation-Skipping Transfer Trusts, which are also known by the name ‘Dynasty Trusts.’  Today’s posting will cover the real reason the Dynasty Trusts got their name in the first place! While this may be a “Who is buried in Grant’s tomb?” question, why do […]

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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 8

November 24, 2011 by

Charitable Trusts, Day Three Over the past two days, we’ve covered Charitable Trusts.  Again, a Charitable Trust is an irrevocable trust established for the benefit of a specific charity; it also can potentially give the trust grantor a tax deduction. If executed correctly with the help of a qualified attorney, a Charitable Trust entitles the […]

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