What Is A Trust Fund? Everything You Should Know
A trust fund is a legal entity that holds property, often financial assets, for the benefit of a third party. A trust fund may be set up to hold assets during an individual’s lifetime or after their death. However, most people associate trust funds with inheritances. The term ‘trust fund baby’ is often used pejoratively […]
What Is The Difference Between a Springing Power of Attorney and a Durable Power of Attorney?
A power of attorney is a legal document that gives someone else the authority to act in your stead. A springing power of attorney only goes into effect under certain circumstances, typically when you become incapacitated. The advantage of a springing POA is that it only grants authority to another person when you can no […]
What Is The Difference Between Guardianship And Custody?
We get a lot of questions about legal guardianship vs. legal custody and which is best for families. There are many similarities between the two, but there are also some important differences that can determine the right choice for any given family situation. Both phrases refer to a legal connection that exists between an adult […]
Everything To Know About Contingent Beneficiaries
You’ve probably heard of primary beneficiaries, which are the people who immediately get the assets you leave behind. But what about contingent beneficiaries? This is an individual or entity that comes into play if the primary beneficiary isn’t able to accept your inheritance for whatever reason. While primary beneficiaries receive their inheritance outright, contingent beneficiaries […]
Probate Attorney: Everything You Need To Know
Probate is a legal process that transfers the property of a person who has died to their beneficiaries. The probate process can be complicated and confusing, which is why you may want to hire an attorney who specializes in probate law. Probate attorneys are experts in the field of estate planning and are often called […]
What Is A Certificate Of Trust And Why Is It Important?
Using a trust to manage your assets has many benefits, but one of the biggest downsides is that it can be difficult to prove that the trust exists and that you have the authority to act on its behalf. If you need to pass a background check or prove your identity, showing a copy of […]
How To Assign A Power Of Attorney?
A power of attorney can be an important part of planning for the care you want if you become unable to make your own health care decisions. It can also help avoid family arguments or court battles over who should make decisions for you. Simply put, a power of attorney is a legal document that […]
What Is Intestate Succession?
Intestate succession describes the process of how a deceased person’s property is distributed when they haven’t left a will. When someone leaves a will, their assets are distributed according to its terms. But if someone dies without writing a will, their property must be distributed according to the laws of their state. If you want […]
What Is Intestate? What Is The Difference Between Probate And Intestacy?
If you die without an estate plan—a Last Will and Testament, a Power of Attorney, a Living Will, and so on—you will be considered “intestate.” In other words, there is no legal document that states how you want your assets distributed after death. When this happens, the state must intervene and determine who gets what […]
What Is A Family Trust? A Step By Step Guide
Setting up a Family Trust can be complex and If you don’t know where to start – or if you want to check that you’ve covered everything – use our step-by-step guide for setting up a Family Trust. What is a Family Trust? A Family Trust is a type of structure that holds assets for […]
