Category Archives: Trust
Can You Use Your Will to Create a Trust?
Trusts are often used in Washington estate planning to hold and transfer property. Living trusts are standalone documents that create a trust during the lifetime of the grantor, i.e., the person who makes the trust. But you can also create a trust through your will. These are known as testamentary trusts, and they do… Read More »
How Are Washington Revocable Living Trusts Taxed?
Revocable living trusts are an easy way to transfer your property without the need for probate after you die. In its simplest form, a revocable living trust transfers title to your property from yourself to your trustee for the beneficiary. During your lifetime, you can serve as your own trustee and beneficiary and are… Read More »
What Is the Role of a Trustee in a Revocable Living Trust?
A revocable living trust is a common Washington estate planning tool used to hold and manage certain assets. The person who creates the trust is known as the settlor or grantor. The settlor funds the trust by transferring legal title to the assets to a trustee. The trustee then administers the trust assets for… Read More »
5 Things to Know About Irrevocable Life Insurance Trusts
Many Spokane Valley residents purchase life insurance policies to provide their family with some measure of financial security. With the typical life insurance policy, you pay monthly premiums and upon your death, the insurance company pays a defined death benefit to the beneficiary or beneficiaries you named during your lifetime. Usually, the beneficiary is… Read More »