Nothing lasts forever. While trusts can stretch across generations and keep valuable money and property within a family, no trust has unlimited funds or an interminable time horizon. Every trust, at some point, will end. The reasons why a trust might terminate can vary, but in general, termination occurs because the trust has accomplished its purpose. […]
A comprehensive estate plan consists of several documents designed to accomplish three important things. First, they lay out your wishes for the handling of your money and property during life and at death. Second, they explain your medical wishes if you are no longer able to make them yourself or communicate them to others. Third, […]
A loved one’s passing is felt by their entire surviving family. But when it comes to carrying out the decedent’s final wishes, not everyone has an equal say. In fact, in many cases, only one person—the executor (for a will) or trustee (for a trust)—plays a role in carrying out the final wishes. This role includes […]
Whether you have inherited your wealth or have built it yourself, you likely want to share this wealth with the next generation and beyond. The quotation “shirtsleeves to shirtsleeves in three generations” has often been attributed to Andrew Carnegie. The same concept has been echoed by other people and various cultures, with the underlying notion […]
