What is a Trust? 

What is a Trust? Trusts are mentioned everywhere: movies, shows, articles, books. But what are they?  A Trust is an agreement between a person with the intent to make and (usually) fund the Trust (Grantor), the person in charge of fulfilling the instructions...
What is a Pour Over Will?

What is a Pour Over Will?

In creating an estate plan, you are proactively taking steps to ensure that your assets will be distributed according to your wishes in the wake of your death.   One tool available to you in estate planning is known as a trust. There are numerous kinds of...
How Much Should a Trustee Be Compensated?

How Much Should a Trustee Be Compensated?

Serving as a trustee of a trust can be a huge responsibility, so trustees are entitled to compensation for their work. The amount of compensation depends on the type of trustee and the complexity of the trust.  Depending on the trust, a trustee’s duties can...
When a Non-Grantor Trust Might Be Useful

When a Non-Grantor Trust Might Be Useful

One of the many factors to consider when setting up a trust is whether to make it a grantor trust or a non-grantor trust. While a grantor trust is more common, a non-grantor trust can be useful in certain circumstances.  A grantor trust is any trust in which the...

What are a Special Needs Trustee’s Record-Keeping Duties?

One of the most important roles in a special needs plan is that of trustee, the person who administers a special needs trust (SNT). Of a trustee’s many responsibilities, record-keeping is perhaps the most crucial. Because the trustee is managing accounts on behalf of...