A modern day estate plan typically includes a wide variety of estate planning tools and strategies that go beyond a simple Last Will and Testament. One of the most common of those tools is a trust agreement. Trusts have evolved over the past century or so to the point where there is a specialized trust for almost any estate planning objective. All trust, however, have a few basic elements in common, starting with the need to appoint a Trustee. The Trustee of any trust is responsible for … [Read more...] about How Are Trust Assets Invested?

If you are a beneficiary of a trust you have some legal rights and interest in the property being held by the trust. After all, some, or all, of those assets will eventually be distributed to you. What happens if you become concerned about the way those assets are being managed by the Trustee? What is you simply want more information about how the trust is being administered? These questions can be answered by answering the general question “What rights do beneficiaries of a trust have?” Over … [Read more...] about What Rights Do Beneficiaries of a Trust Have?

A comprehensive estate plan should include far more than just a Last Will and Testament. While there are a virtually limitless number of additional documents that may be included in your estate plan, one of the most common additions is a trust agreement. Trusts have steadily gained in popularity over the past several decades for several reasons, including the wide variety of estate planning goals that can now be achieved using the right type of trust agreement. If you have decided to include a … [Read more...] about Funding a Trust

Most people prefer not to think about their own mortality. As such, the idea of planning your own funeral and burial may, at first, not be very appealing. Ultimately, however, many people do choose to incorporate a funeral planning component into their comprehensive estate plan. For those who do decide to include a funeral planning component into their estate plan an irrevocable burial trust is a common method of doing so. If you are considering creating one you may be wondering “Do I have to … [Read more...] about When I Create an Irrevocable Burial Trust Do I Have to Name a Particular Funeral Home?

When a trust is created the maker of the trust must make a number of important decisions. One of the most important decisions is who to appoint as Trustee of the trust. Though it is always wise to discuss the appointment with the intended Trustee before making the appointment final, there is no requirement that a maker do so. As a result, it is possible to be named as the Trustee of a trust agreement and only find out about it after the death of the maker of the trust. If you just found out that … [Read more...] about “I Just Found Out I Was Named As the Trustee of a Trust – What Should I Do?”

For most people, creating a comprehensive estate plan involves drafting and executing a compilation of documents above and beyond just a Last Will and Testament. Over the last several decades, trust agreements have become one of the most popular additions to an estate plan, due in large part to the flexibility offered by a trust agreement. If you are considering the addition of a trust to your estate plan you may have several questions about how a trust is created and how one functions once … [Read more...] about How Is Out of State Property Funded into a Trust?

Trust agreements are now commonly included in the average person’s estate plan, predominantly because of the variety of estate planning goals that can be accomplished with a trust agreement. If you have never created a trust agreement before you likely have a number of questions and concerns about including one in your estate plan. For example, you may be wondering “ what assets are left outside my trust? ” The simple answer to that question is that the assets left outside of your trust … [Read more...] about What Assets Are Left Outside My Trust?

Although your Last Will and Testament is likely the cornerstone of your estate plan, chances are good that your plan also includes additional estate planning tools and documents, such as a trust. In fact, trusts have become increasingly common in estate plans over the past several decades. If you have an existing trust and wish to make substantial changes you may be wondering “ How do I revoke my trust? ” Before rushing to revoke your trust though, you may wish to consult with your Missouri … [Read more...] about How Do I Revoke My Trust?