When most people think of estate planning, wills and trusts are often the first things to come to mind. There are so many different types of wills and trusts that you may have a lot to consider before choosing your estate planning strategies. A living trust is one of many important components of a good estate plan. But there are many myths surrounding this particular estate planning tool. The Overland Park living trust lawyers at Gaughan & Connealy are here to dispel some of the common … [Read more...]
What You Should Know about Establishing a Trust
One of the primary purposes of a trust is to minimize estate taxes and avoid lengthy and expensive probate proceedings. When it is time to start establishing a trust, including the appropriate terms is important. These terms provide the required instructions for managing and distributing the trust assets. Here is what you need to know about establishing a trust.The three basic steps involved in establishing a trustFirst, a trust is essentially a fiduciary agreement between the person … [Read more...]
