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...
Trust Administration
Rags to Riches: 3 Estate Planning Tips for The Self-Made
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...
What Happens During a United Kingdom Trust Administration?
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...
Why You Should Consider Having a Trust
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...
Do I Need a Support Trust?
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...
The Best Way to Plan for Your Pets
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...
Understanding the advantage of your special needs trust
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...
Decanting Your United Kingdom 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...
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...
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...