Trusts | WillsandTrustsLawFirms.com

The 'Executor' of a Trust

The person who serves as the "executor" of a living trust is called the successor trustee.

Modifying or Terminating a Trust

A trust is created when ownership, of certain assets, is transferred to a trustee. The trustee is in place to manage the assets for the beneficiary ...

Serving as Trustee of the A and B Trusts: Ongoing Issues

If you and your spouse made a bypass trust to reduce or eliminate your estate tax bill, and now you’re the sole surviving trustee, you may feel a li...

Splitting an AB (Bypass) Trust

When you find yourself the sole trustee of an estate-tax-avoidance AB trust, your first job is to split the trust into two separate trusts: the bypass...

Bypass Trusts: An Overview

Many affluent married couples, who fear that their estates might someday be subject to estate tax, set up what are called bypass or AB trusts. These t...

Payment for Trustees

Like executors, most trustees are entitled to payment for their work managing and distributing trust assets. Typically, either the trust document or s...

Should You Serve as a Trustee?

If you’re asked to serve as the successor trustee of someone’s living trust—or worse, you find out only after the person’s death that you’ve...

A Basic Overview of Trusts and Types of Trusts

While the specifics of your life and family situation are best addressed in a more personalized discussion, this brief overview will provide some basi...

How to Find an Oakland Trusts Lawyer that will Serve You

It is becoming increasingly important to take care of your trusts and estates before you die. However, many Oakland trusts lawyers are pretending to...

Life Insurance Trust

You’re not likely to be asked to serve as the trustee of an irrevocable life insurance trust (ILIT), which is a trust designed to reduce estate tax.

Express Trusts

An express trust is simply one that is created knowingly and intentionally—for example, a revocable living trust set up to avoid probate, or a chari...

Constructive Trust

A constructive trust is established when a person takes title to property that rightfully belongs to another person; that person has a duty to trans...

Charitable Trust

Grantors, or persons who wish to establish a trust, typically use charitable trusts when their desire is to make a large charitable gift, or to tran...

Totten Trust

A “Totten trust” is really just a payable-on-death (POD) bank account—an account for which the owner names a beneficiary, who inherits the funds...

Spendthrift Trust

A spendthrift trust is any trust that contains clauses specifically aimed at preventing the beneficiaries from squandering their inheritance. People w...

Special Needs Trust

A special needs or supplemental trust is designed to provide funds for someone with a disability, while preserving the person’s eligibility for impo...

Resulting Trust

A resulting trust is created by operation of law, usually when an express trust fails. For instance, if a settler, or the person who creates a trust...

Irrevocable Trusts

An irrevocable trust is one that can’t be changed or terminated (revoked) by the person who created it.

Inter Vivos (Living) Trusts

An inter vivos trust is usually referred to as a living trust. It’s created while someone is alive, rather than at death.

Implied Trust

Implied trusts are created by operation of law, or without any sort of intentional act by the settlor, or the person establishing the trust. A com...