Some QTIP Trust Advantages
WHAT IS A QTIP TRUST? Couples in their 2nd or 3rd marriages often consider a QTIP trust. This is because it works well to care for the current spouse for life. Then, it can be drafted to care for children from a prior marriage. A qualified terminable interest property (QTIP) trust is a type of…
Read MoreTENANTS IN COMMON: IS IT WORTH IT?
TENANTS IN COMMON Most people in real estate know that one way property can be owned is as Tenants in Common. Tenants in Common consists of two or more people who own a separate interest in real property. That separate interest can be transferred, assigned, or mortgaged to a third party. That is, unless the…
Read MoreThe Family Bank
The Family Bank What is a Family Bank? Well, to start, it’s important to understand why a Family Bank may be useful. Why a Family Bank? Most families who have worked hard to accumulate wealth share a concern for the long-term welfare of their offspring. They want them to have security and at the same…
Read MoreA Fraudulent Conveyance Is Not the Answer
Fraudulent Conveyance Most people don’t want to lose all of their stuff if they get sued. They may be tempted to commit a fraudulent conveyance. Their first reaction might be to give their property away to someone they trust. Then they can just get it back when the dust settles. While some people may think…
Read More