Publications
What Are the Duties of A Trustee?
Trust Agreement is the written document directing the management of the property, the payments of income and principal, and the scope and duration of the Trust. What are the Duties of the Trustee? The duties of the Trustee arise from the Trustee’s obligation to carry out the Grantor's intentions in creating and funding the Trust. There are five general duties of the Trustee – to be prudent, to carry out the terms of the Trust, to be loyal to the Trust, to give the Trust their personal attention, and to account to the beneficiaries of the Trust.
What Are Durable Powers of Attorney, Living Wills, Health Care Proxies, Declarations of Homesteads and Beneficiary Designation Forms?
Documents used in estate planning are Durable Powers of Attorney, Healthcare Proxies, Declarations of Homestead and Beneficiary Designation Forms, are in many ways ancillary to the Will and the Trust. It is important to have all of these documents up to date and properly coordinated with your estate plan.
What Is A Trust?
What is a Trust? A Trust is created when you transfer the financial benefit of property to a third party while keeping the legal ownership and control by appointing themselves, a financial institution or another individual as the Trustee. In short, a Trust is set up by a Grantor, managed by a Trustee, and benefits the beneficiaries. Separate people can hold each of these roles, or the same person can hold all three.
What Is A Will?
Why should you have a Will?
A Will makes the transfer of your personal and real property according to your wishes into an orderly and seamless process at your death. The Will can be as simple or as complex as your desires require; but in all cases, it should clearly define what your assets are, to whom you wish those assets to go and who you nominate to administer your estate. This is the short answer to the question as to what a Will is. If you have other specific questions, you should consult your estate planning professional.