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Posts tagged "Trusts"

Spendthrift trusts could be a good answer for risky beneficiaries

A spendthrift trust is a unique trust that gives an independent trustee complete control over trust funds that are to be distributed to a beneficiary or used for their benefit. This is an excellent trust to give to those who may spend money quickly or on things you don't want them to buy, for example.

Learn more about what trusts are and how they benefit you

A trust is something you may have heard about but not fully understand. Basically, it's just a financial arrangement that allows a third party to hold your assets on behalf of those who will become your heirs and beneficiaries. There are several kinds of trusts, all of which have their own benefits and downsides.

Should you set up a revocable trust?

If you are beginning to plan your estate, one beneficial type of trust to consider setting up is the revocable trust. A revocable trust is one where you can alter or cancel the provisions after you set it up. Unlike the irrevocable trust, this gives you more opportunities if you need to change the terms of the trust.

How can I avoid probate in Ohio?

If you are starting to plan your estate in Ohio, it is likely that you will be trying to avoid probate. As many people know, probate is the standard procedure that takes place when processing a person's estate. While it helps to ensure that assets are distributed according to the will of the deceased person, it is economically inefficient and can take a long time to complete.

Picking a trustee

Sometimes, people here in Ohio end up including trusts in their estate plans. Trusts can be aimed towards a variety of goals. How successful a trust ultimately is at achieving its intended goals can be affected by many things. This includes how the trustee acts.

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