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If you have been assigned trustee of a trust administration, you now have fiduciary duties to follow. Fiduciary duties describe the duties to act in

A grantor retained annuity trust (GRAT) is an estate planning tool used to minimize taxes on large gifts between family members. In a GRAT, an

A family limited partnership (FLP) is a business partnership between family members. Each family member puts in money to run a business project. Typically, every

Estate tax is a tax paid on the total value of a deceased person’s estate. The assets that can make up an estate include money,

Receiving sudden wealth can come from many different sources. From winning the lottery to inheriting money from a distant relative, a sudden windfall can bring

A dynasty trust is a type of long-term trust created to pass wealth down to multiple generations. The main advantage of a dynasty trust is

Despite their similar names, a living will and a last will are two vastly different legal documents. A living will, also known as a healthcare

A testamentary trust is a trust created in a last will and testament. The creator of the trust, also called the grantor, leaves instructions in

A QTIP trust, or Qualified Terminable Interest Property trust, is a type of irrevocable trust that is often recommended for blended families. A QTIP trust

Digital assets are any assets that are stored digitally. They can have monetary or even sentimental value and may be stored online, on a mobile

An executor of a will or estate has been chosen to carry out the deceased individual’s final wishes. This could include donating to charity, paying

A qualified personal residence trust is an irrevocable trust that allows the creator to remove a property from their estate. This is done to reduce

If you are interested in long-term wealth planning, you may have heard of a dynasty trust. A dynasty trust is an irrevocable trust that can