Can An Irrevocable Trust Be Altered?
An “irrevocable trust” certainly sounds as though it can’t be altered. And, for the most part, it can’t be. But, like many things with law, there are exceptions. Let’s take a look at irrevocable trusts, when they’re used, and when they can be altered. What is an Irrevocable Trust? An irrevocable trust occurs when assets […]
What is Not Included in a Trust?
Having a trust can be a great way to ensure that your assets end up where you want them after you pass away. Likewise, a trust gives you some added control over spending/use of your assets by your beneficiaries. Still, there’s a lot of misinformation out there regarding trusts and what they entail. Specifically, it […]
Should You Be Creating An Incentive Trust?
The average parent would probably like to leave something behind for their children in the event of their passing. We know this to be an inheritance, but we also know that isn’t always what families want to do. Warren Buffet once wrote that we should endeavor to leave a large enough inheritance to our children […]
How to Set Up a Special Needs Trust
Planning your estate properly is even more important if you intend to leave assets to someone with special needs. Doing so without using a special needs trust can hurt the person in ways that you do not intend. It can make them ineligible for Supplemental Security Income and Medicaid, to begin, in addition to other […]