The word “dynasty” is all about family. In Dynasty, the dramatic television show from the 1980s, two families feuded over family and fortune. Ancient and modern political dynasties maintained power and control among leaders from one family. In estate planning, the word “dynasty” is used in connection with a trust created to keep money in…
Transfer Real Property Into A Living Trust In Arizona Jenna’s estate planning attorney suggested she create a living trust. It seemed like the best way for her to pass her property to her heirs. She was confused, however, when her lawyer said she had to ‘transfer’ her real estate to her trust. Wasn’t it enough…
Duties Of A Trustee At some point in your estate planning, you’ll need to choose who will serve as personal representative or agent. If you’re establishing a trust, of course, you’ll need a trustee. When it comes time to name names, will you know what qualities to look for in a trustee based on their…
Living Trust Vs Will Based Estate Plan In Arizona The names really say it all, at least on the surface. A “will-based” plan is, of course, based on a Will. And a “trust-based” plan revolves around a trust. No surprises there, right? But when it comes time to develop or update your estate plan, do…
Why You Might Want A QTIP Trust You may not spend a lot of time thinking about Lifetime QTIP trusts. In fact, it’s very likely you’ve never heard of one. However, for the right person, this type of trust can be a very powerful tool that helps cement your legacy with your family. But, first,…
Protecting Irresponsible Loved Ones From Your Will In Arizona Loving our family members doesn’t mean turning a blind eye to their faults, especially if those faults could have long-term adverse consequences. Some people just need to be protected from themselves, from their own bad habits or lack of judgment. Fortunately, there are estate planning tools…
Trusts are a common estate planning tool, but choosing the right type of trust can be tricky. Some types are designed for specific situations, like a special needs trust or a pet trust. Others, like revocable and irrevocable trusts, offer great benefits – along with some restrictions and limitations. Knowing the difference between a revocable…
About 68 percent of families in the United States own at least one pet. So many people consider their pets to be part of the family that the term “pet parents” is commonly used. It’s only natural then that people might worry who will care for their beloved dogs and cats when they no longer…
At Keystone Law, We Usually Don’t Have To Wonder Why Our Clients Create Trusts – We Know Trusts have become a popular estate planning tool for many people for good reason. But deciding to use a trust is not like choosing the trendiest watch or most fashionable pair of shoes. Creating a trust account can…
The person who creates a trust is called a trustor or a settlor. Once the ink is dry on a trust document, the trustor may think their work is over. Not true. The trust is just like an empty vessel that needs to be filled up. If you’ve created a trust, here’s what you need…