What Is a Living Trust? A living trust is a legal document that, like a will, contains your instructions for what you want to happen to your assets when you die. However, unlike a will, assets can transfer to a beneficiary while avoiding probate. A living trust is a legal […]
Estate Planning
6 posts
The Settlor of a Trust – What Does That Mean? The settlor of a trust is the person who creates a trust to be managed by a trustee for the benefit of another party called the beneficiary. The settlor of a trust plans, creates, and funds the trust. Without the […]
What Is the Full Retirement Age (FRA) in the USA? Full retirement age (FRA) in the USA ranges from age 65-67 when workers can claim full, unreduced Social Security retired-worker benefits. The full retirement age (FRA), is often known as the normal retirement age. It is the age at which […]
What Is a Holographic Will? A holographic will is a document that is handwritten and signed by the person who is writing the will and giving the legacy. Unwitnessed, a holographic will is valid in about half the U.S. states. However, if properly witnessed, it can be valid in all […]
Per Stirpes – What Does it Mean? Per Stirpes, used in a will stipulates how assets are to transfer if beneficiaries pass away before you do. It passes their share to their heirs. Per stirpes is a designation that instructs where and how your assets should be passed down in […]
What Is a QTIP Trust – Qualified Terminable Interest Property Trust? A QTIP Trust is a qualified terminable interest property trust. It enables the grantor (or creator) to provide for a surviving spouse. Additionally, it allows for control of how the trust’s assets are distributed once the surviving spouse dies. […]