"What Assets Should I Put In My Revocable Living Trust?" by Attorney Jon Gasior (Audio) Revocable Living Trusts are an extremely common tool used to create a comprehensive estate plan that provides for probate avoidance and control of assets during lifetime and at death. While the Revocable Living Trust can be one of the most effective estate planning tools, there can be a major downside. If you … [Read more...] about What Assets Should I Put In My Revocable Living Trust?
Written by Stephen C. Hartnett, J.D., LL.M., Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. provided courtesy of Attorney Nicole Livingston What is a trust? Black’s Law Dictionary defines a trust as “An equitable or beneficial right or title to land or other property, held for the beneficiary by another person, in whom resides legal title or ownership, … [Read more...] about What is a Trust?
"What is a Trust" by Attorney Nicole Livingston … [Read more...] about What is a Trust? (Audio)
"What is an Inter Vivos Trust?" by Attorney Jon J. Gasior … [Read more...] about What is an Inter Vivos Trust? (Audio)
The transfer of an existing checking or savings account, or one that is created in the future, can be accomplished quite easily. Take a copy of your Certificate of Trust to the new accounts department of your bank or savings and loan and request that the accounts be set up in the name of your Living Trust. You will then sign the new signature cards as Trustee. You need not change the face of … [Read more...] about How to Transfer New Assets into the Name of Your Living Trust
"How to Transfer New Assets Into the Name of Your Living Trust" by Attorney Nicole Livingston … [Read more...] about How to Transfer New Assets into the Name of Your Living Trust (Audio)
For existing stocks and bonds the transfer procedure can be difficult and time consuming. These problems can be reduced if you have a working relationship with a stockbroker who will agree to help you with the transfer. If a broker is not used, a letter for the particular stock should be sent to the transfer agent. A copy of the Certificate of Trust should be sent along with your letter to … [Read more...] about How to Transfer Assets into the Name of Your Living Trust
The new Maryland Trust Act (hereinafter “MARYLAND TRUST ACT”) took effect on January 1, 2015 and is applicable to existing and new trusts. Therefore, it is retroactive to all trusts, regardless of whether the documents were executed prior to this date. Maryland now joins a large number of other jurisdictions, including Virginia and the District of Columbia, in enacting its statutory authority to … [Read more...] about The Maryland Trust Act
"The Maryland Trust Act" by Attorney Victor A. Lembo … [Read more...] about The Maryland Trust Act (Audio)
During the process of creating your estate plan, you will be forced to make some difficult decisions. With each decision, it is important to carefully consider your choice and evaluate the consequences of the resulting circumstance. Let’s talk about what you will want to contemplate before starting your estate plan. What do you want to accomplish with your estate planning? Who do you … [Read more...] about Difficult Decisions