Estate Planning Simplified: Wills, Trusts, and Intestacy Explained
Discover the importance of estate planning. Premier Legacy Law of Denver, CO outlines what happens if you pass away with or without a will.
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What Can I Not Do as Trustor and Trustee of a Revocable Living Trust?
Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustor and trustee.
Read article How to Choose a Trustee
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order.
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Five Mistakes Successor Trustees Make (and How to Prevent Them)
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. Even the most capable, well-intentioned successor trustees can make mistakes when managing affairs, however. Here are five surprisingly common mistakes along with steps to take to prevent them from happening.
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3 Examples of When an Irrevocable Trust Can—and Should—Be Modified
Irrevocable trusts can be modified through a court order. Many people share the misconception that the name implies absolute permanence. Yet, changes in laws, family, trustees, or financial circumstances can warrant alterations. Errors in the trust document may also arise, prompting a need for modifications, even in irrevocable trusts.
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5 Good Reasons to Decant a Trust
Trust decanting provisions are important to allow flexibility when dealing with irrevocable trusts. Some estate plans contain irrevocable trusts for the benefit of a spouse or other family members that may need some changes to ensure the plan still meets beneficiaries’ needs.
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