Tagged: Trust

What Are Living Trust Scams

What Are Living Trust Scams

What Are Living Trust Scams A. Living Trusts As you know, a living trust is a legal arrangement where a person, called the “grantor,” places his assets into a trust during his lifetime. The trust is administered by a “trustee” for the benefit of the trust’s beneficiaries. The grantor may be a trustee and a beneficiary of the trust. Living trusts are a widely recognized and legitimate estate planning device. Because assets transferred to the trust are no longer owned by the grantor, at the grantor’s death, the assets are not part of the grantor’s estate and do not have...

The Trust Mechanism

The Trust Mechanism

The Trust Mechanism In legal terms, there is no mechanism quite as flexible and valuable as the trust. Usually an imperative asset in the tax-planner’s tool box, the trust mechanism is a legal fiction that is present in the majority of jurisdictions across the world. It is in effective a tripartite relationship between a truster, a trustee and a beneficiary, although these names vary across jurisdictions. The truster is the party transferring property, which then becomes property of the trust as an entity and hence is administered by the trustee, usually an accountant or investment banker, for the benefit of...