An irrevocable trust is a powerful estate planning tool that offers benefits such as asset protection, tax savings, and long-term control over wealth. Unlike a revocable trust, which can be altered during the Grantor’s lifetime, an irrevocable trust cannot be easily modified or revoked. While this permanence may deter some people, it is also what […]
Trust
What Type of Trust Is Right for My Estate Plan?
A trust is a common addition to the average estate plan. If you are contemplating the addition of a trust to your plan, choosing the right type of trust is a critical decision that can have far-reaching implications for your assets, beneficiaries, and overall estate planning goals. To determine which type of trust is best […]
Can a Trust Beneficiary Sell His/Her Interest in the Trust?
Many people choose to include at least one trust agreement in their estate plan. The beneficiaries of a trust have a current or future legal ownership interest in the assets held by the trust. The trust terms will dictate when the beneficiaries receive distributions from the trust and how much they receive. Sometimes, however, a […]
How to Use a Trust to Include Philanthropy in Your Estate Plan
One reason for the popularity of trusts is the numerous and diverse estate planning goals that can be accomplished using a trust. If philanthropy is part of your everyday life, for example, you may wish to consider using a trust to continue that charitable gifting in your estate plan. A Bellevue trust attorney at Legacy […]
Can I Appoint Myself as the Trustee of My Own Trust?
As your estate plan grows and expands, you will incorporate a variety of estate planning tools and strategies into that plan. One of the most common of those is a trust. If you do decide to add a trust to your estate plan, you will need to appoint a Trustee for that trust. A Bellevue […]
