by FamilyTrust | May 1, 2016 | Uncategorized
by FamilyTrust | Mar 28, 2015 | Uncategorized
Each Entity must have a specifically stated date to dissolve and wind up business. The Entity can be extended (or dissolved earlier) by mutual agreement of the Participants, but this may be difficult to obtain in the future. Therefore, the founder(s) should specify a...
by FamilyTrust | Nov 26, 2014 | Uncategorized
When preparing your legacy to pass on to your heirs it’s important for them to understand what will happen after you pass. They should know their future roles and responsibilities. It is your job to prepare them. If taking over the family business or philanthropic...
by FamilyTrust | Nov 24, 2014 | Uncategorized
Everyone hopes their heirs will be responsible with their inheritance, but too often the heirs experience Sudden Money Syndrome and treat their inheritance like lottery winnings. A simple solution to this is making money available when a beneficiary makes responsible...
by FamilyTrust | Nov 12, 2014 | Uncategorized
An incentive trust promotes your values to your heirs by setting stipulations before beneficiaries may receive funds. They are a popular way of discouraging frivolous spending and fostering a healthy work ethic. For example, they may provide a payment for a high GPA...
by FamilyTrust | Nov 10, 2014 | Uncategorized
A living will is a legal document that says “let me die” if death is pending as defined by state statute. It is typically a subjective statement of one’s intent to die – specifying how to let one die if one does not die immediately, such as by removal of food and/or...
