Category Archive for: ‘Estate Planning’

Can I Modify an Irrevocable Trust?

Irrevocable trusts are powerful tools.  In addition to their estate planning benefits, they can help meet other family goals, such as providing for those left behind and reducing tax liabilities.  One potential drawback to irrevocable trusts, however, is that they can be difficult to change. While some trusts are irrevocable from the moment they are drafted, others become irrevocable at …

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Tending to Your Living Trust: The Importance of Proper Funding & Other Helpful Tips

A revocable living trust allows the grantor of the trust (the person who establishes the trust) to control trust assets during his or her lifetime and names subsequent beneficiaries of trust assets upon the grantor’s death.  A revocable living trust is commonly used to help avoid the probate process and preserve privacy following a grantor’s death. In addition, administering a …

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Special Needs Trusts Introduction & Overview

THE PURPOSE OF A SPECIAL NEEDS TRUST Special needs trusts (“SNT”s) allow a beneficiary to remain eligible for needs-based government benefits without having to completely forego their inheritance or other gifts from loved ones and, in some cases, settlement proceeds from lawsuits. Special needs trusts can address a variety of situations.  One of the most common is to manage a …

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