Posts Tagged Trusts


WHAT DOES A TRUSTEE OF A LIVING TRUST DO?

Explanation of a Living Trust Let’s say you own a diamond ring, a house, a cat, furniture, and a bank account with $20,000.00. At law, there are 2 elements of ownership. There is the legal ownership and there is the beneficial ownership of any property (a “property” here means personal property and real estate). In […]

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Michael Jackson Estate|Poor Estate Planning Freezes Assets

Michael Jackson died a rich man. But, three years later, his children have yet to see a dime of their father’s estate. Instead, litigation has swirled around the estate, costing millions in legal and other fees. More than three years after the death of Michael Jackson, the trust fund for his children, Prince, Paris, and […]

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Living Trust…without a lawyer?

If you are ever confronted with someone who is pitching you a trust, the first thing you need to ask is to meet with the lawyer at some point in the process. Ask this question: “Who is the lawyer who prepared this?” And then, ask to meet with the attorney. Often, no such person exists.

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Trusts and Wills – the differences

When you set up a trust, it is something that “comes alive,” or is legally effective the moment you sign the trust document. A will is different in that while your will is legal, it really does not take effect in legal terms until your death.

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