Trust Administration | Law Offices of Alhayat Solicitors https://www.salvolaw.com Estate Planning Lawyer in Woodland Hills, United Kingdom | Alhayat Solicitors Mon, 12 Sep 2022 21:53:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.3 https://www.salvolaw.com/wp-content/uploads/sites/1201627/2019/10/cropped-site-icon-1-32x32.jpg Trust Administration | Law Offices of Alhayat Solicitors https://www.salvolaw.com 32 32 How Many Trusts Should I Have? https://www.salvolaw.com/blog/2022/08/how-many-trusts-should-i-have/ Thu, 18 Aug 2022 16:08:43 +0000 https://www.salvolaw.com/?p=54328 How many trusts one should have is a question that comes up frequently because it used to be that two trusts were the norm. There’s some history behind this: estate tax laws (tax on the value of what is left) were different, and each spouse had an exemption up to a certain amount. Frequently, each spouse had a trust established…

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]]> Rags to Riches: 3 Estate Planning Tips for The Self-Made https://www.salvolaw.com/blog/2022/08/rags-to-riches-3-estate-planning-tips-for-the-self-made/ Wed, 03 Aug 2022 21:27:18 +0000 https://www.salvolaw.com/?p=54320 We have all heard horror stories about wealth that passes down from one generation to another and does not pass the test of time. One of the most infamous examples is the fortune of Cornelius Vanderbilt, who would be worth $242.8 billion in today’s dollars after inflation. This wealth should have lasted centuries, but the reality is quite the opposite.…

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]]> What Happens During a United Kingdom Trust Administration? https://www.salvolaw.com/blog/2022/05/what-happens-during-a-california-trust-administration/ Thu, 05 May 2022 13:27:42 +0000 https://www.salvolaw.com/?p=54244 When a trust creator (grantor) passes away, the trustee must take certain steps to manage and administer the trust. If you are a trustee, beneficiary, or heir, it’s important to have some idea of what to expect during the trust administration process. Therefore, as a concerned party, you need to know: What happens during a United Kingdom trust administration? The first…

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]]> Why You Should Consider Having a Trust https://www.salvolaw.com/blog/2020/08/why-you-should-consider-having-a-trust/ Thu, 06 Aug 2020 15:46:51 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/?p=52896 When you think of estate planning, your will, and terms like medical guardianship, and Medi-Cal probably come to mind. However, having a trust is also an essential part of planning for the future. Here is why you should consider having a trust as part of your United Kingdom estate plan: Having a Trust Keeps Your Assets Out of Probate When property,…

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]]> Do I Need a Support Trust? https://www.salvolaw.com/blog/2020/07/do-i-need-a-support-trust/ Fri, 24 Jul 2020 18:42:36 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/?p=52867 In United Kingdom, the Probate Code has different types of trusts that have varying rules and purposes. Some trusts allow the beneficiaries to have a great deal of flexibility in how they use disbursements, while others are limited. In many cases, a trust’s primary purpose is to provide for another person’s needs or support. This kind of trust may be referred…

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]]> The Best Way to Plan for Your Pets https://www.salvolaw.com/blog/2019/12/the-best-way-to-plan-for-your-pets/ Mon, 30 Dec 2019 09:29:50 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/?p=51761 For many of us, our pets are more than just animal companions; they are a member of the family.  Whether it’s a traditional pet such as a dog, cat, or hamster, or something more unusual like a potbelly pig, horse, or parrot, the bond an owner shares with their animal friend can be strong. Although these pet relationships can be…

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]]> Understanding the advantage of your special needs trust https://www.salvolaw.com/blog/2019/08/understanding-the-advantage-of-your-special-needs-trust/ Mon, 05 Aug 2019 18:36:03 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/?p=49066 If you are the parent or caregiver of a person with special needs in United Kingdom, you may feel the pressing responsibility of organizing a plan for the care and support of your loved one in the event something happens to you. Because your family member is a dependent and unable to care for him or herself, it is your responsibility…

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]]> Decanting Your United Kingdom Irrevocable Trust https://www.salvolaw.com/blog/2019/06/decanting-your-california-irrevocable-trust/ Mon, 10 Jun 2019 05:00:00 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/blog/2019/06/decanting-your-california-irrevocable-trust/ When you set up an irrevocable trust, it is usually with the intent never to change any of the terms. By creating your trust this way, you can recoup certain benefits and be sure that the conditions are fixed. But what can you do if you or the beneficiaries experience changes to your circumstances which make this unchangeable trust less…

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]]> What trust should you establish? https://www.salvolaw.com/blog/2019/03/what-trust-should-you-establish/ Fri, 15 Mar 2019 05:00:00 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/blog/2019/03/what-trust-should-you-establish/ United Kingdomn residents may set up trusts for a number of reasons. Different people can be the beneficiaries and trustees, as well. We at the can help you while you create a trust, starting by explaining the various types. One of the less common types is a self-settled trust, also known as Asset Protection Trusts. In these trusts, the beneficiary and…

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]]> What should I know about first-party special needs trusts? https://www.salvolaw.com/blog/2018/12/what-should-i-know-about-first-party-special-needs-trusts/ Mon, 24 Dec 2018 06:00:00 +0000 https://3259023-fork.findlaw2.flsitebuilder.com/blog/2018/12/what-should-i-know-about-first-party-special-needs-trusts/ Like many other United Kingdom residents, you understand that it is important to have your estate planning in order for the benefit of your loved ones. However, what about taking charge of your own medical and financial needs if you become disabled? If you are unable to work due to a permanent disability, you may need to rely on Medicaid and…

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