Experts in estate and trust administration know all the ins and outs of irrevocable trusts. Still, these legal contracts can become confusing for the layperson, sometimes discouraging individuals from including trusts in their estate plans. Even though trusts may seem intimidating, probate attorneys say they can often save your heirs a significant amount of stress while potentially saving you money. Most people have Read More

Think you don't have enough money to consider using trusts in your estate plan? Think again. Experts say that trusts are applicable for a variety of clients. In fact, the amount of money in your bank account rarely disqualifies you from effectively using trusts to distribute your wealth after your death. Today, we are going to consider the fundamental characteristics of revocable and living trusts to help you Read More

The estate of an Iron Range family's patriarch is under dispute, with the man's children fighting the men in charge of trust administration for his massive wealth. The man, who had been a food magnate in the town, reportedly had a penchant for conflict during his life that has not abated even after his death. Two of the man's children argue that their parents were coerced and manipulated by their financial advisers Read More

A judge in Oklahoma has levied a massive judgment against JPMorgan Chase for the bank's failure to follow trust administration protocols for the estate of a 1900s oil baron. The granddaughter of the man had been benefitting from the trust, which was reportedly mismanaged by the financial behemoth. JPMorgan has been ordered to pay $18 million. A Tulsa County judge reportedly found that the organization had been Read More

One of the most important decisions you can make during your estate planning process is who will oversee the trust after your death. The person you choose as a trustee or fiduciary will be responsible for interacting with your loved ones, distributing funds and managing trust assets according to your wishes. This person should be reliable, congenial and responsible, according to experts. You should evaluate the Read More

When creating an estate plan, many people become concerned about federal and state taxes that could lower the amount that actually goes to beneficiaries. Trust administration experts say that some taxes can be circumvented by creating an irrevocable life insurance trust (ILIT). This type of trust can help Floridians by allowing more of their money to go to their heirs, instead of to the federal or state Read More

Trusts used to be financial tools only used by the very wealthy. Now, trusts are used to achieve a variety of estate planning goals. Experts say that a working knowledge of trust administration is essential for anyone who plans to leave behind a will. Although trusts sound confusing, they are actually quite simple. A trust is a contract between three parties. A person can have more than one role in a trust. Read More

Man Ray was an influential artist during the Jazz Age. But how did almost the entirety of his art collection end up in the hands of a car repair shop owner? The story is almost as surreal as the man's art itself, and it involves a series of trust administration decisions that will likely provide a financial boon for a humble family. The original art trust was formed by the artist's wife. Since she passed away, Read More

Living trusts are sometimes pitched to Florida seniors in high-pressure environments, with salespeople contending that probate fees will be lower if a trust is in place. These people often convince older citizens to create trusts where they may not be needed. Experts advise that those interested in proper trust administration first consult a lawyer and financial adviser before listening to salespeople. A living Read More