An in-depth exploration of Beneficial Interest, its types, historical context, and applications.
A Qualified Terminable Interest Property (Q-TIP) Trust is an estate planning strategy that ensures all income from trust assets is paid to the surviving spouse during their lifetime and limits asset transfer to others. The surviving spouse can control the final beneficiaries within a pre-designated group.
Understand RES: The Latin term for 'thing,' referring to the property underlying a trust in legal contexts.
A Spendthrift Trust is a type of trust fund created to provide financial maintenance for a beneficiary while enforcing restrictions to guard against the unwise use of the assets. Often established by parents for their children, these trusts offer a layered approach to asset management and protection.
In-depth exploration of Bare Trusts, their benefits, and how they compare to other types of trusts.
