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A Gun Trust is a trust specifically established to purchase, own, and convey firearms at the grantor's death. Gun Trusts are usually established to purchase "Title II firearms", which include, but are not limited to machine guns, short-barreled rifles, and silencers....
The Delaware Incomplete Non-Grantor Trust (DING, aka NING-for trusts settled in Nevada) is a sophisticated irrevocable trust that functions as follows: Grantor, an Oregon resident, has a substantial amount of stock with a low cost basis. Grantor settles a non-grantor...
The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that holds a life insurance policy on the grantor's life. The SLAT has two tiers of beneficiaries. The initial beneficiary is the grantor's spouse; the secondary beneficiary is the grantor's child[ren]...
As technology advances rapidly, people's digital assets become more and more important. Paying bills and taxes, storing important documents as well as media files, communicating with friends and loved ones are some of the things that people do online. Contact...
In simple terms, an Irrevocable Life Insurance Trust (ILIT) is a irrevocable trust that holds a life insurance policy, generally on the grantor's life. The policy can be either term or permanent. Generally, the grantor will make cash gifts to the ILIT, and the trustee...
Irrevocable trusts are complex and have endless variations. The following flow chart is meant to be a general guideline for the average irrevocable trust (if there is one) with an Upjohn Clause*, designed to keep assets out of the settlor's estate.
Many people are familiar with the phrase "asset protection" but are not aware of exactly what it is or how they can benefit from it-so I'll tell you a little about it. Creditors gravitate towards debtors that have substantial assets because if the debtor has no assets...
Probate is a court process whereby the court oversees the administering of the decedent's estate. Probate is meant to give the decedent's creditors a chance to make a claim on the decedent's property, and then to clear the title after the creditors have had sufficient...
