Joint trusts are a good planning tool for a married couple

Article Abstract:

Joint, revocable living trusts are beneficial for married couples who own all of their property jointly or reside in a community property state. The properly crafted trust document provides specific instructions for distribution and management of the trust, preventing control lapsing to the state. Difficulties with joint trusts occur when funding is unequal, or specific conditions are not described to maintain the community property status of property used for funding. Joint trusts should be drafted by experienced professionals familiar with the laws and aims of the grantors.

Analysis, Finance, Married people

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Alaska's revision of its trust act, which sets out to permit trusts to preserve assets and reduce taxes, may have implications for trust planning nationwide

Article Abstract:

The revised Alaska Trust Act provides a new tool in accomplishing the two main goals of estate planning, namely, the protection of assets from creditors and the reduction of estate taxes. Trusts created in Alaska also no longer have to contend with the rule against perpetuities. Some of the trust assets must, in order to take advantage of the law, be deposited in the state and administered by a qualified person. Part of the administration of the trust must also take place in the state.

Laws, regulations and rules, Alaska, Trusts and trustees, Trustees, Trusts (Law)

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Trust plans can benefit client and attorney

Article Abstract:

Estate planning with the use of revocable living trusts is far superior to the same process with the use of wills and probate. The proliferation of do-it-yourself estate planning kits has occurred because lawyers have not provided the public with the easy-to-understand estate planning centered on living trusts best suited to their needs. Wills and probate have become outdated, putting lawyers in charge of clients rather than helping them design what will best serve their needs.

Practice, Probate law

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