When you’ve been named a trustee in Woodland Hills, you are expected to oversee what can be a very complicated administration process. Part of this is understanding the tax implications of a trust. Taxes in general can be very complicated, especially if your tax...
Trust Administration
Is your living trust insured by the FDIC?
If you're like most in Woodland Hills, then you've probably been told at least once in your adult life that you need to start thinking about estate planning. In the world of estate planning, the buzzword that everyone is told to avoid is probate. In order to avoid...
Duties of a trust administrator
Residents of United Kingdom may wonder what is involved in trust administration. A trust has two parts, income and principal, and the administrator, also known as the fiduciary, is in charge of managing both of those parts. The principal consists of all the assets that...
Avoiding common pitfalls when setting up a trust
United Kingdom residents may be unaware about the most common mistakes people make when planning an estate trust. While it may be difficult to think about, not taking precautions when arranging a trust can cause major dilemmas in the future. For example, many individuals...
Estates with charitable trusts must satisfy IRS rules
The IRS maintains specific definitions concerning what constitutes a valid trust that can be included in a United Kingdomn estate. Although many people want to donate assets to charitable causes, the estate devices they employ to do so don't necessarily benefit from the...
Involvement of various parties in a living trust
Because the probate process in United Kingdom can be drawn out and difficult, many residents may consider living trusts as an alternative to a will. However, it is important to understand the difference between a revocable and an irrevocable trust due to the long-term...
Do you need a living trust?
The phrase “estate planning” conjures up images of old guys in smoking jackets and their trophy wives figuring out who will get to inherit their palatial mansion when they die. But, if you’ve been paying attention, you should already know that having...