Tasha is currently attending the University of Detroit School of Law and is focusing her studies on estate planning and real estate. Chris walked me through the entire process, pros and cons of different formations, and handled everything for me from A to Z.
See what our clients are saying about us! He has a great way of explaining the process and all that is entailed.
A Trust is an entity which owns assets for the benefit of a third person beneficiary. A Living Trust is an effective way to provide lifetime and after-death property management and estate planning. In addition to being the Grantor, you can also serve as your own Trustee Original Trustee.
What is a Revocable Trust? The trust then owns and manages the property held by the trust through a trustee for the benefit of named beneficiary, usually the creator of the trust settlor.
This can save your estate from estate taxes when you die. What is an Irrevocable Trust? Upon the death of the person who created the trust, the property of the trust does not go through probate proceedings, but rather passes according to provisions of the trust as set up by the creator of the trust.
I would highly recommend him.
I knew what I had to do to get the business part off the ground, but I was pretty clueless on the legal. Just remember that it does not alleviate your current income tax obligations. We have helped train dozens of young students who have gone on to great success in the real world and who have themselves become dedicated to giving back to their communities.
Our Peace of Mind Guarantee! He took his time with me, answered every question I had, and was just so kind. When you set up a Living Trust, you are the Grantor; anyone you name within the Trust who will benefit from the assets in the Trust is a Beneficiary. We are proud partners in the Rochester Community Schools Practicum - an internship program offering students an opportunity to experience the professional world while determining their interests in and aptitude for the law.
I highly recommend Chris and the Rochester Law Center! The settlor, trustee and beneficiary may all be the same person. In this way, a person may set up a trust with his or her own assets and maintain complete control and management of the assets by acting as his or her own trustee.
This trust may become irrevocable and unamendable when the only person who can amend or revoke the trust dies or becomes incompetent. Mentoring the Leaders of Tomorrow At Rochester Law Center, we believe in teaching and mentoring within the community to develop young minds into the leaders of tomorrow.
What is a Living Trust? A trust that can be amended and revoked, usually by the person who established the trust. Forms, Features, Customer Service. At the Rochester Law Center, we take care of our clients and we make sure the job is done right.
Gold Award 11 Year Winner in all Categories: As the Original Trustee, you can transfer legal ownership of your property to the Trust. He was so very helpful and informative.We have all types of michigan trusts.
These including Living trusts, Real Estate Over 20 Years in Business · BBB A+ Rated Business+ followers on Twitter. Will vs. Living Trust Considerations.
If you are ready to create a last will or living trust, LegalZoom can help. Here are five things you must do before writing a living trust.
read more. The Top Three Ways to Avoid Probate. Do you know the top 3 ways that you can avoid probate? Maybe yes or maybe no. Either way, here is a short primer. The term "living trust" is often used to refer to a specific type of living trust – a revocable grantor trust.
The grantor is the trustee of the trust and is also the sole lifetime beneficiary. A successor trustee is named to serve if the grantor becomes disabled or dies.
Create a Living Trust in Michigan by Brette Sember, Esq., May A living trust in Michigan can be a valuable estate planning tool that gives you control over your assets and which offers privacy.
A living trust is a trust established during a person's lifetime in which a person's assets and property are placed within the trust, usually for the purpose of estate planning.
The trust then owns and manages the property held by the trust through a trustee for the benefit of. A Living Trust is a way for you to set aside funds for quicker distribution for caring for your minor children, disabled family members, or pets.
Assets can also be designated to support you if you become incapacitated and cannot manage your finances yourself.Download