Estate Planning
| Trust Elements - Trustee |
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| A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary. This More... |
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| Trust Elements - Trust Property - I |
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| A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary. More... |
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| Gifts During Life - II |
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| An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee. More... |
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| Co-Ownership Myths - II |
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| One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy in common and a joint tenancy with right of survivorship. Many people do not understand what a tenancy by the entirety is or was. More... |
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| Making Final Arrangements -- Ceremonies |
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| When formulating your estate plan, you should contemplate body disposal and ceremonies. Writing out a statement of your preferences will likely save money and save your loved ones from additional heartache. Typically, at least one ceremony occurs when a person dies. Sometimes several ceremonies are held, either before or after burial or cremation. Most loved ones are likely to be comforted by attending a ceremony that reflects the wishes and personality of the deceased person. More... |
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