Question 1: What is a gun trust? A form of revocable living trust, a gun trust allows Florida gun owners to transfer ownership of specific types of firearms. The trust, under the direction of the trustee, owns the guns on behalf of the beneficiaries, who get to use the weapons. Gun trusts are specifically designed to allow people who own firearms restricted under the National Firearms Act. This … [Read more...] about The Gun Collector’s Estate Plan – 3 Questions About Gun Trusts
Tip 1: Consider your own desires. There are any number of charities that serve any number of worthy causes. Will you give a donation to your local religious organization, your alma matter, a charity that aids in medical research, an international organization that assists children in developing nations, or a combination of groups? The available choices are endless. If you're having difficulty, … [Read more...] about Choosing a Charity For Your Estate Plan – 3 Tips
Creating a trust is a popular estate planning tool, particularly when it comes to a living trust. Here is a quick rundown on how a living trust works: A living trust is a legal arrangement in which a person, called the grantor, shifts ownership of property, such as stock, a home, real estate or bank accounts, from their ownership into the legal ownership of the trust. A trustee manages the … [Read more...] about What are a Successor Trustee’s Duties?