Trusts
A Trust is an agreement that empowers a manager, (called a trustee) named by you, to use the assets owned by the trust to accomplish the purposes you identify within the trust. Sometimes, a Trust can be an effective part of an estate plan, along with a Will, for the efficient administration of your assets. Crafting an appropriate Trust requires a thorough understanding of the client as a person – her core principles and values. It is at this very personal level that the Laurel Law Group excels.
Our goal is to ensure that the values you practiced in life continue to guide your trustee.
Laurel Law Blog Articles about Trusts
Gifting in your Will
You can structure your gift in different ways to meet your needs. For example, you can make a: Specific Bequest a gift of a specific dollar amount, asset, or percentage of your estate to a specific person or organization. Residual Bequest a gift all or a percentage...
Do You Need Or Want A Revocable Living Trust?
Revocable living trusts are often used to avoid having to open a probate in more than one state. When you own real property in your name (without any provisions for right of survivorship) you are required to seek the assistance of a court to transfer title at death....
Life Insurance
Did you know that the proceeds from your life insurance policy are included in your estate? You can use an irrevocable insurance trust (ILIT) to own your policy and still leave the proceeds to your family without having the funds included in your estate. There are...
Kids and IRAs
Did you know that f you list your three children as your beneficiaries on your IRA and one of your children predeceases you that child’s children may get nothing? Did you know that if you name a minor as a beneficiary, they can’t legally own that IRA? Many parents...
Beneficiary Designations 101
IRA beneficiary designations are a confusing topic to many and it often takes coordinating with your financial advisor, your legal advisor/attorney and your accountant to ensure that your financial legacy passes properly to the next generation. Because IRA...
