FAQ Friday: Testamentary Trusts

On Friday, September 22nd Attorney Steven Berger discusses using beneficiary designations with testamentary trusts.

This is a trust that is established as part of your Will. It works well with the probate process.

We also use the trust to receive death benefits and can be paid directly into trust which can exempt them from the estate. This would protect them from claims against estate.

It would combine the probate and non probate processes. In order for the trust to be valid, the Will has to be admitted to probate to establish validity.

Some insurance providers can be tricky, so using law firms can make the process smoother.

This is a good way to use trusts.

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