Elon Musk of Tesla was asked to fund a six-billion-dollar donation to the UN to address world hunger. He agreed to give provided they presented him with an acceptable detailed plan on how it was to be accomplished. Even such a large gift (2% of his estimated wealth) would not be a permanent solution. Solving…
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Does a revocable trust replace a will? Do all assets have to go into the revocable trust? And how much do trustees typically get paid?
Living or revocable trusts are effective estate planning tools that can avoid the hassle and cost of probate and ease the transition of assets after the death of a grantor. Clients often think that because their trust contains some, if not all, of their assets, that they only need a living trust to direct distribution…
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