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What are the benefits of setting up a family trust mortgage for estate planning and asset protection?
Setting up a family trust mortgage can provide benefits for estate planning and asset protection by allowing assets to be managed and distributed according to your wishes, potentially reducing estate taxes, avoiding probate, and protecting assets from creditors and lawsuits.
Can an irrivocable trust be used to keep land in a family so doesn't have to sell to pay for nursing home?
Yes. However, the trust should be drafted by an attorney who specializes in trust law, estate planning and tax law.
Can a family trust be a member of an llc?
Yes, a family trust can be a member of an LLC. This can provide asset protection and estate planning benefits for the family members involved. It is important to consult with legal and financial professionals to ensure compliance with all relevant laws and regulations.
Who handles estate and trust planning in the Denver area?
Jerold R. Gilbert Law Offices, P.C. handles estate and trust planning in the Denver area. You can reach them at 1624 Market Street #207, Denver - (720) 748-6600
Can I leave my estate to my daughter but NOT her husband?
Yes, you can create a trust that specifies that your estate goes directly to your daughter and not to her husband. This allows you to keep control over how your assets are distributed. Consulting with a lawyer who specializes in estate planning can help ensure your wishes are legally binding.
What has the author Addis E Hull written?
Addis E. Hull has written: 'Stock purchase agreements in estate planning' -- subject(s): Estate planning, Stock purchase agreements (Close corporations) 'Drafting wills and trust agreements' -- subject(s): Forms, Trusts and trustees, Wills 'Illinois and Federal estate and tax planning' -- subject(s): Estate planning, Tax planning
Can a trust eliminate a husband's right to one third of his wife's estate if he is omitted from her will.?
Trusts are often used for estate planning. A person can transfer all their property to a trust and when they die that property is not considered part of their estate. Trust law is an extremely complicated area of law and trusts must be drafted by a professional and tailored to the needs of the trustor. They must also conform to state and federal tax laws. You should consult with an attorney who specializes in estate planning in your jurisdiction.Trusts are often used for estate planning. A person can transfer all their property to a trust and when they die that property is not considered part of their estate. Trust law is an extremely complicated area of law and trusts must be drafted by a professional and tailored to the needs of the trustor. They must also conform to state and federal tax laws. You should consult with an attorney who specializes in estate planning in your jurisdiction.Trusts are often used for estate planning. A person can transfer all their property to a trust and when they die that property is not considered part of their estate. Trust law is an extremely complicated area of law and trusts must be drafted by a professional and tailored to the needs of the trustor. They must also conform to state and federal tax laws. You should consult with an attorney who specializes in estate planning in your jurisdiction.Trusts are often used for estate planning. A person can transfer all their property to a trust and when they die that property is not considered part of their estate. Trust law is an extremely complicated area of law and trusts must be drafted by a professional and tailored to the needs of the trustor. They must also conform to state and federal tax laws. You should consult with an attorney who specializes in estate planning in your jurisdiction.
If you and your wife are co-trustees of her revocable trust does it create and incidence of ownership for you that would make any assets includable in your estate?
That depends on the validity of the trust, the terms of the trust and the source of the property that was transferred to the trust. If you transferred property to the trust and the trust isn't valid then that property remains in the your estate. If the trust property is to be transferred to you upon her death then the property will become part of your estate. If the trust is not properly drafted the property will also be exposed to creditors. An improperly drafted trust can cause very costly legal problems when, for example, the trustor dies. Trust law is extremely complex and varies from state to state. A trust must meet the requirements of the federal tax code. You should have your trust reviewed by an attorney who is an expert in trust law and estate planning.
Can just a house and no assets be put in trust?
Yes. Your home is an asset and can be transferred to a trust. Seek the advice of an attorney in your area who is knowledgable about estate planning trusts and real estate law to make sure it's done properly.
How do you establish an irrevocable trust with a life estate?
Trust law is one of the most complex bodies of law. The provisions to draft a valid trust vary from state to state. Errors made by non-professionals, even some attorneys, can be deadly and very expensive to correct IF they can be corrected. You need to consult an attorney, with a good reputation, who can review your situation, understand your needs and explain your options. There are tax consequences that must be considered when making transfers to a trust. If the trust fails, the property will remain in the trustor's estate and the estate will need to be probated, trust property will not pass as desired and various taxes may be owed by the estate on the trust property. If you are contemplating such a complicated method of estate planning you need to consult a professional.
Why is estate planning important in Sydney?
Estate planning ensures that your assets are distributed according to your wishes, protecting your loved ones from legal disputes and unnecessary tax burdens. It also helps you plan for future healthcare decisions and financial security. For expert estate planning in Sydney, trust Evalesco to guide you through the process—contact Evalesco today!
What has the author Harvey J Platt written?
Harvey J. Platt has written: 'Our living trust & estate plan' -- subject(s): Estate planning, Popular works, Living trusts
