What is a Trust Investment Policy Statement?
A trust investment policy statement (TIPS) is a crucial document that outlines the investment guidelines for a trust. It acts …
What is Actual Fraud vs. Constructive Fraud?
Understanding the distinction between actual fraud and constructive fraud is crucial in trust litigation. While both involve deceit and result …
What is a Successor Beneficiary?
In the realm of estate planning, understanding the nuances of beneficiaries and their roles is crucial. A successor beneficiary steps …
What is an Estate Tax Return?
An estate tax return, officially known as Form 706, “United States Estate (and Generation-Skipping Transfer) Tax Return,” is a document …
What Is A Simple Trust?
A simple trust, in its most basic form, is a legal arrangement where one party (the grantor) transfers assets to …
What is a Spendthrift Clause?
A spendthrift clause is a provision often included in trusts that aims to protect trust assets from being squandered by …
What is a Successor Guardian?
Guardianship, a legal arrangement where an individual or entity assumes responsibility for the care of another person deemed incapable, often …
What is a Testamentary Trust?
A testamentary trust is a legal arrangement that comes into effect after someone passes away. It’s created through a will, …
What Is Considered Elder Abuse?
Elder abuse is a serious problem that affects millions of older adults each year. It can take many forms, including …
What Is a QTIP Trust?
A Qualified Terminable Interest Property (QTIP) trust is a specialized type of irrevocable trust designed to provide for a surviving …