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The term fixed trust is commonly used to refer to two different types of trusts. The first type of fixed trust is an actual form of trust with very specific instructions for the trustee. The second type of fixed trust can also be referred to as a fixed investment trust, a type of mutual fund.
→ Read MoreAssets in a dynasty trust are continuously manged and disbursed without being transferred to a specific beneficiary. A dynasty trust allows successively younger individuals, usually family members, access to the assets of the trust without fully disbursing the funds. As the trust earns income, their children, grandchildren, and other descendants can draw upon the assets according to the terms of the dynasty trust.
→ Read MoreA revocable living trust is a vehicle that is very helpful in avoiding probate. During your lifetime, you can transfer ownership of your assets to a revocable trust so that the assets are owned by the trust at the time of your death, and therefore not subject to probate.
→ Read MoreA special trust requires the trustee to actively execute the settlor’s instructions. These actions to execute a special trust can include selling the trust property and using the proceeds to pay off debts or investing cash that is part of the trust in a particular manner.
→ Read MoreUnit trusts are created with both wealth management and estate planning in mind. A unit trust is not actually a “trust” at all, but rather a form of mutual fund. A unit trust differs from a regular trust in that it’s completely unmanaged and not handled by attorneys, but are sold by brokers.
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