Under the settlor’s original estate plan (revocable trust and associated pour-over will), upon settlor’s death, all settlor’s children were to receive equal beneficial interests under the trust.

Purpose trusts in Michigan are rare because their duration is limited to 21 years. The most common use is for trusts to care for animals after the settlor’s death.

Because the settlor retains the right to use the residence transferred to the QPRT during the term of the trust, the value of the settlor's present interest in the QPRT is not a taxable gift.

When a married parent creates an irrevocable trust for the benefit of his or her children, the married parent, as the creator or settlor of the trust, often provides for his or her spouse to have ...

The underlying reasons for establishing a domestic asset protection trust can vary. Some high net worth individuals may wish to establish the trust in order to protect assets from the claims of ...

Estate and trust planning by financial advisors on behalf of Black Americans can tear down the historical barriers that have led to persistent racial disparities today, according to a new study. The ...

The grantor or settlor: This is the individual who establishes the trust and transfers assets into it. The trustee: Responsible for the administration and management of the trust, the trustee also ...