If you decide to leave assets in a trust for your beneficiaries, consider your designation of trustee carefully. The most important person in the trust framework is the trustee, the one responsible for managing trust assets.
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
Though most people who contract COVID-19 experience mild symptoms, it doesn’t hurt to be prepared if you do need to be hospitalized. It can feel scary thinking about getting sick or not being able to make decisions for yourself, but an estate plan is meant to ease your fears. After all, wouldn’t you feel better knowing that the burden of making health and financial decisions will never fall on unprepared family members?
The Walt Disney Company has come a long way since it was founded by brothers Walt and Roy O. Disney nearly a century ago. What began as a cartoon studio is now a media powerhouse, complete with amusement parks and properties.
Years ago he signed a power of attorney document naming me as his agent, so I could help him with these types of things. Not ever having done this before, what do I need to know about fiduciary duty?
We all have witnessed how children have a difficult time understanding why one sibling was treated differently. To overcome this, parents will make the well-intentioned mistake that fair and equal are the same.
One of the most important decisions you face when creating a trust, is the choosing of the right trustee.
Two days before he died in what was ruled a suicide in a Manhattan jail cell, Jeffrey Epstein signed a will that put all of his holdings into a trust.
If asked to be a trustee, anyone, unless previously experienced in this field would not know what the responsibilities are. How much work is involved? What is the time frame? Do I need to prepare tax returns and handle accounts? Can I get help? When do my responsibilities end?
Almost three years after San Diego developer and philanthropist Conrad Prebys died, a court fight continues over control of his $1 billion estate.