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LegalCornerTM - Library of FAQ's - (Trusts Directory)

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  Answers to FAQS On Trusts



General Trusts FAQs
What is a trust?
What is a Living Trust (also known as a Revocable Living Trust)?
Is a Revocable Living Trust a public document?
What is the Primary Purpose of a Revocable or Living Trust?
What are the main benefits of the Revocable Living Trust?
Does A Revocable Living Trust Provide Tax Savings?
What is a Totten Trust?
What are the disadvantages of a Living Trust?
Do I have to file an income tax return for my living trust?
If a Will Does The Same Thing As A Living Trust, Why Do I Need A Living Trust?
Can anyone have a Revocable Living Trust?
Can I amend or revoke a Living Trust?
Once I assign property to my Living Trust, do I lose control over it?
How do I put my assets into the revocable living trust?
Can a living trust hold both separate and community property?
Who should be the trustee of my living trust?
What Happens if I am the Trustee and I later become incompetent?
Who manages the distribution of my assets from my Living Trust after my death?
What are the Successor Trusteeís duties?
How do I choose a Successor Trustee?
Can a Living Trust distribute of all of my property upon my death?
Canít I use an online or other paralegal service to create a living trust?
Who should I get to draft a revocable living trust and how much will it cost?
Will a Revocable Living Trust Make It Easier To Qualify For Medi-Cal?
What is a Dynasty Trust?
What are the disadvantages to the Dynasty Trust?
What is a Bypass Trust (Exemption Trust )?
What are the restrictions on a Bypass Trust?
What Happens If A Bypass Trust is not Properly funded or administered?
What is Trust Administration?

Special Trusts For Tax Savings
Coming Soon!

Revocable Living Trusts
Coming Soon!

Minors Trusts
What is a Minor's Trust?
Do I Need A Minor's Trust To Make An Annual $12,000 Gift To My Child?
When does The Uniform Transfer to Minors Act (UTMA) custodial account expire?
How do you set up a UTMA Custodial Account?
What types of money and property can be held in a custodial UTMA account?
What is a Totten Trust?
What is a 529 Savings Plan Account?
What is the 529 Prepaid Tuition Plan?
What is the Coverdell Education Savings Accounts (Education IRAs)?

Pet Trusts
What is a Pet Trust?
What states allow a trust for a pet?
How much does it cost to set up a pet trust?
How does a Pet Trust work?
Are Pet Trusts Taxed?
How long can a Pet Trust Last?
Can my relatives challenge my Pet Trust?

Special Needs Trust
What is a special needs trust?
Who should have a Special Needs Trust?
Can a parent with a child who is an addict use a Special Needs Trust?
What can a Special Needs Trust pay for?

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