by Keith Hajovsky | Mar 13, 2024 | Living Trusts, Testamentary Trusts, Trusts
Can a trust be amended or terminated? Sometimes a grantor, also called a settlor, of a trust (the person who created the trust) or a trust beneficiary ends up not liking some of the wording of a trust. Or sometimes life circumstances in general change so much that the...
by Keith Hajovsky | Dec 6, 2023 | Asset Protection, General Estate Planning, Testamentary Trusts, Trusts
Although you cannot create a trust for yourself with the goal of asset protection, you can create a trust for someone else with asset protection in mind. And these protections can come in two forms. The assets can be protected from potential poor money management...
by Keith Hajovsky | Nov 1, 2023 | Asset Protection, Testamentary Trusts, Trusts, Wills
Someone recently asked me: What is a testamentary trust? A testamentary trust is a trust that is spelled out in your will. However, it does not actually become a legal, functioning trust until after you pass away and your will is probated. At that time the trust...
by Keith Hajovsky | Jul 5, 2023 | General Estate Planning, Probate, Trusts
A spendthrift trust can be a very powerful estate planning tool if you want to leave assets to someone who isn’t good with money. I have always said that everyone has their strengths, i.e. things that they are good at. Some of us are very artistic. Some of us...