What is a TIST? Everything You Need to Know About the Tennessee Investment Services Trust
Tennessee is one of the best states for asset protection trusts, many of which are available to people who aren't even residents of the state. One of the more unique ones is the TIST, the Tennessee Investments Services Trust. Note, for our Florida clients, there's a...
Why Are LLCs So Popular?
There are two main reasons why a particular entity is chosen, be it an LLC, S-Corporation, C-Corporation, or some form of partnership: tax treatment of profits and risk management. Other considerations may weigh in, but these are usually top of mind for most new...
How is a Revocable Living Trust Different From a Will?
A Revocable Living Trust and a Will are similar in that they both spell out who is to inherit assets from people after they are deceased, and they work well together to ensure people's estate plans meets their needs, but they are different in a few important ways. For...
What is a Durable Power of Attorney?
A Power of Attorney is a legal power or right, designated in a document that is created by a person who wants another person to take over some of his or her legal decision-making. The words “Power of Attorney” refer to both the legal power and the document that...
Does a Revocable Living Trust Interfere With My Control of My Assets?
Simply said, no. The people who put the assets into the Revocable Living Trust and who approve the language found in the trust document about how the assets are to be managed are the "Settlors" (sometimes also called Trustors, Grantors, or Trust Makers), who also...
What Does A Revocable Living Trust Do?
Interested Parties The Revocable Living Trust document will name the Trustors, Trustees, possible Successor Trustees, and Beneficiaries who will be involved in the management of the trust that it creates and the use of the assets it holds. Assets The Revocable Living...
How does a Revocable Living Trust Benefit My Family In Real Terms?
When someone dies or becomes incapacitated, there can often be problems in the aftermath with regard to that person’s assets. For example: Arguments among family members about who is to manage the estate when the owner is unable to do so.Disagreements about who is to...
Who Are the Various People or Parties Involved in a Revocable Living Trust?
A Revocable Living Trust document, such as those drafted at our law firm Leigh Cowden PLLC, creates a legal entity that will hold title to your assets (property, car, bank accounts, stocks and other securities, etc.) “in trust for” or “for the benefit of” you and...
Who Needs a Revocable Living Trust?
Many people have heard about Revocable Living Trusts (RLTs), but not everyone understands the actual reasons and benefits behind having one. Understanding the benefits of Revocable Living Trusts is the best way to identify whether a Revocable Living Trust is right for...