#generally mansions like that one have trust funds attached

[daily-sloop-john-b]

via @asspinkie

still wildly entertained by the location of cazador's palace. like. he's centuries old yet hasn't made enough to spring for a place in the upper city. honestly so embarrassing for him to be immortal and broke

[whumpersdump]

Project Rebirth Chapter 9

I'm back! on a trial basis, and a little less actively, as I promised myself.

Little heads up, I'm doing things differently. So, expect a few time skips and very self-indulgent drabbles because as it turns out structure and rules was what kept me away from this story on the writing part. (As for me & whump, I've allowed myself 1 chapter a week to write, since I have other non-whump WIPs as well)

I put in a time skip because I had ideas, so... (happy an open to prompts/asks or whatever though, as far back and ahead in time as you like)

Consider it a bit of a restart. (For those of you interested, I'll have some pieces about the actual procedures in the previous chapters as well, later on. I'm picking whump back up slow, though. Last time I kind of burned myself out.)

3 years after the start of Project Rebirth

TWs: general pet whump stuff, collars, institutionalized dehumanization

Marcus sat on his sofa on the back porch of his mansion. Project Rebirth had become a huge success. Government-funded, his program trained most pets these days. They opened their fifth foreign facility just last week. He had access to all the footage and records worldwide.

The European station had an interesting batch waiting. It wasn’t a large facility. Older practices still had the upper hand there. It had been in use for about two years now, so the first long-term procedures had been starting to bear fruit. Two younger pets, just a year above placement age. Real troublemakers as Orian had been, though now they played like toddlers in a pen.

They would be placed with some French trust-fund kid. Hallie and Anaïs were the pets’ names. An English one as tribute to him, though Marcus had Scandinavian roots somewhere deep in the family more than he had English ones. The two girls were to be raised as twins. A challenge to the head of the facility, since the two couldn’t stand to look at each other when they were brought in. They had never even met and already detested one another.

Marcus moved to his own footage. His facility wasn’t far away. His residence was the only inhabited place for days on foot. Just in case a pet did try to make a run for it. It was easier to keep quiet that way, and to ensure recapture. Though, he had yet to see his first escape.

Orian had been doing great. They were an ‘excitable little pup’ as one of his prospective clients once told him. Always playing and giggling. He let them, be noisy outside. Chained to a pet-pole in the middle of yard, wearing a soft harness to keep it that way, they played with one of his pet rabbits. Though Orian was raised to call them their friends.

Orian wore green and yellow on their collar these days. Normal, given their age. Youthful misunderstandings and fears were part of the process, but given where they had come from, an achievement he had been awarded prizes for.

The collar was a bit of an issue. Orian had no problem wearing it, but if Marcus used it in any way other than as a mark of property, it ended in childlike wailing. Normal leashes didn’t work. It was a rare problem, but a hard one to train a pet out of. He had tried to make them adjust, but about a year into the post-birth stages of the program he realized that sometimes regulations are too constricting. He had the power and reputation to change them now anyways.

In the yard, Orian wore the harness attached to that pole. They had a long chain, long enough to go everywhere in the open area of his gardens. Always within sight from the porch. They were a curious pet, always touching and feeling. At first Marcus had thought the lenses hadn’t disintegrated like they were designed to do by year two, but after they checked it turned out Orian was just like that.

It was an aspect he wanted to achieve, but didn’t expect to succeed in so soon.

Toby sat in the outside pet-bed, fiddling with a toy he’d gotten from one of his investors. He scratched under his double-blue collar as he watched Orian play.

He had taught Toby his true place, once he understood the problem. He had been wrong about conscious obedience in him. In his latest piece for the Handfulls magazine, which was a weekly report on the newest developments in pet-training, he had written it all out.

There were two kinds of conscious obedience. The most common and well-known one, come from a place of fear and a desire to avoid punishment, and Toby’s. A desire for pride. Toby didn’t obey because he was supposed to, he obeyed because it got him praised.

A tricky problem to solve. Positve reinforcement made obeying worth it, even if the orders given were less than desirable. Toby had been too aware that he had a place in a hierarchy. Some part of him still placed himself in a line with real people. Part of the culprit had been his function as a research assistant.

Marcus simply stripped him of the title. He still carried out procedures and intakes, and he served as an example for the Reborns, but he was to refer to himself as just pet. No title or function. He had chores, not tasks. At home he made sure to keep comparisons to a minimum, as Orian’s quick progress was what had most likely caused his outbursts of jealousy.

These days, Toby saw Orian as his little sibling as much as Orian saw Toby as their big brother. The only comparison he allowed was that of age. That way, it was easier to explain why Marcus was more lenient with his repercussions on Orian.

Orian, his little Orian. Toby watched them with a gentle affection in his eyes.

Orian didn’t age the same he did, that was the real cherry on top of the cake. An old friend had helped Marcus develop the procedures. Orian’s physical development had been halted. Their birth-age had been mid-twenties when they came in, and they would continue to look like that until their Rebirth age matched.

The downside was that it caused some severe physical weakness. That apparently, was the only reason the stuff never reached the market for humans. Orian could not walk. Three years old, and they had yet to make a single step. They could crawl, and stand if they held on to something, but they could not hold their own weight otherwise.

In the training facilities they had harnesses attached to rails on the ceiling to transport subjects who were to eager to wander off or too weak to stand without help, but Marcus wanted his home to look normal. His pets were there for him, not the other way around.

The weakness should subside over the cours of a few years. Orian would develop as normal after that. Helplessness helped overcome the malfunction in their implant anyway. By now, Marcus could be sure that the malfunction didn’t bring any specific thoughts to Orian’s mind. Just a feeling of danger. He could work with that. Orian had no idea their sudden adrenaline spikes and tantrums came from their past. As far Orian was concerned, they had no past. They were born three years ago.

“Sir?” Toby asked quietly. “Can I go on the grass?”

“You can go pick up Orian,” Marcus answered. “It’s close to bedtime, you both have an in person evaluation tomorrow.”

Toby was a riskier pet to have wander around outside. Toby hadn’t been through the program, and therefore had access to his memories from before he was ‘found’ as a pet. He had spent his days in a park not unlike Marcus’s gardens. Marcus didn’t want to spark any old memories. Toby got emotional, he would be prone to it. Toby never left the porch unrestrained. He wore thick shoes if he did have to go on the grass, kept by the stairs. Under no circumstances was he allowed to touch it.

Marcus clipped a long leash to Toby’s collar as he put on his shoes. Toby never questioned it. Not once.

His sweet little Orian, and his perfect Toby. Marcus couldn’t think of a better life.

taglist: @suspicious-whumping-egg @distinctlywhumpthing @just-a-whumping-racoon-with-wifi @panic-and-chaos @only-shadows-dwell-where-we-are @whump-it @abearthatwrites

[serak-sarak-meta-sarahk]

No literally

Then the FEDERAL GOVERNMENT walked then through how to set up a mansion empty

To where it looked like they spent their whole trust funds younger wealth on houses to "Kardashian out" in.

That was only the government meeting level of federally not allowing them to be slaves.

In America. If we as a lineal walk partially spaced. We might have an abduction to slavery trafficking that day.

Or we as a whole lineal walking tight knit might full lineal get sounded into slave jobs at dinner to them.

The feds have to time fly some of our lineal to stop the slavery on the younger generation lineals. Someone might come back white white white white. The feds will do your make up and white accent you to lineal flash you as white you .

Then keep you in the WPP building wealth for them with free time. The WPP isn't gonna rape me but the Kardashians are gonna get richer if I have to everyday fill my time of the day with them because of culture wanting to have sex with Sarah K. Then Kardashians get richer. Sometimes if one of them really wants a business... the WPP will just pick me up to go make white deals as Sarah K randomly in her home.

Kim when starting mom workouts. They just walked into my home said "hey Sarah k Kim really is working put a lot and wants a mom workout business for safe mom workouts wanna go to _______". This was when Kim was not even mom yet like 2004.

Then I'll say my schedule and they'll tell me if it's federally parent abuse and I can over agree. This stuff is cool and fine so I always am just like "if that's abuse????"

And so they attach labor laws to my grind. Then they just run legal global alerts on Sarah k or sarak now.

They'll video tape me saying "ummm I'd rather do that for Kim than get raped."

Their show might as well be an actual PSA and is considered a PSA in media tablet. Paperwork. They'll sometimes call the show straight just "Kardashian PSA"

If I'm going to the business as white Sarah K just with Feds busting to my home, I just get told the ad pitch on the media tablet I get on paper is for brand "Kardashian PSA"

Literally every white voice Sarah K ad on the media tablet was for "Kardashian PSA Commercial Time" instead of a brand. If they EVEN had to go that far with new funding.

They had a whole cousin PSA chain of commercials to turn their whole show to commercials at any moment and return me and grab them via helicopters while the commercials took over the show broadcast with white Sarah K commercials while we took off the helicopters from the other side of the country back over to them.

Now they're made you all base with them, they're wealth isn't even cool anymore. But they did it giving randoms business deals. How much more FEDERAL GOVERNMENT PLANNED psychology creative rendition of "get the fuck off my cousin" could it be.

[mctherfvckers]

BASIC INFORMATION

NAME Magnus Bane AGE thirty-five (35) OCCUPATION independantly wealthy VEHICLES Lamborghini Veneo Roadster in purple chrome, Audi r8 in matte black and a Ferrari 458 Spider in Gold Chrome POSITION fast talker

BIOGRAPHY

          As the only son of one of the most independently wealthy people in the world, Magnus was the trust fund kid of trust fund kids. Having always been given the best. Maybe given wasn’t the right word, there had always been… strings attached to his father’s ‘overflowing generosity’. It was never enough to be ONE of the best at anything. No, if Asmodeus was to allow his son a modicum of praise then Magnus would have to be the best at everything. That included attaining top marks in his best of the best, private boarding academies and extended to those he kept in his company.

         Thanks to his father’s doctrine, Magnus learned quite young that if he wanted anything in life he was going to have to be zealous and intelligent with his approach and all Magnus wanted was independence and separation between him and his father. While he would always appreciate the certain qualities of his father, he didn’t want to live a life filled with bought friends, greedy lovers and homicidal kitchen staff. Magnus wanted things that were real. So he played his father’s game long enough to get his trust. Going to Harvard Business School and getting an MBA as well as a degree in creative marketing and sociology. Even passing the bar which did aid in manipulating his father into signing a legally binding contract to ensure that he’d be the sole beneficiary of all his father’s assets once he passed away.

         Now, a story wouldn’t be complete without a little true love, which is exactly what a nineteen year old Magnus had thought he’d found in Camille. Turned out there wasn’t a big enough diamond ring in the world to keep a woman like her faithful. It devastated him, turned him into the kind of man who believed walls around his heart would make him stronger. Instead it just made him a shady, salty, sassy and sarcastic fortress of a man. Which is exactly the kind of man he has remained. Of course with age he has managed to accumulate his OWN accomplishments and wealth. With his background in business, finance and marketing, he was able to make quite a lot in stocks and trade. Managing to become a multi-billionaire, and all at just twenty-three. Somehow that had made him feel marginally better, but it did lend itself to some boredom and it required some, unconventional activities to entertain him.

         Naturally he’d grown accustomed to a certain self indulgent life style, one filled with decadence and opulence. Multiple mansions, summer homes, fashion pieces straight off the runway, champagne fountains, classic works of art and the best of anything. A cultured and truly bourgeoisie man. Yet, despite how unbearable he ought to be, he is actually quite the charmer and people person, and doesn’t look down on those who have less than him,  instead he actively and very willingly gives back. Through the lessons he’s learned in his life, with the help of experience and extensive travelling, he’s found a life full of wealth is more enjoyable when you’re incredibly generous, patient and understanding.

         For the past year and a half he’s spent most of his free time doing one of the very few things that brings a genuine smile to his face. Street racing. It had started off as a way to quell his boredom and grew to be one of the few things that still manages to give him an adrenaline rush every time. It was something he’d started five years ago on the streets of Hong Kong. However, most recently, the Miami scene has managed to capture and hold his attention. So he bought property and has made it his current home base, so to speak.

ADDITIONAL INFORMATION

is a BIROMANTIC BISEXUAL

while he has closed himself off romantically he HAS NOT closed himself off to friendships and he is one hell of a flirt who does genuinely enjoy more casual dalliances

OWNS a private jet, a yacht, and an ostentatiously large but private mansion in Miami

is a COLLECTOR of fine arts and artifacts and his currently collection is worth a few million dollars

while he mainly serves the crew as a FAST TALKER he can also be utilized as a DISTRACTION if need be

the Audi r8 is the car he drives THE MOST just from day to day, when he’s not using a driver, which since he’s been in Miami, has been less and less

RELATIONSHIPS

NPC Asmodeus father alive

NPC unknown mother alive

CONNECTIONS

coming soon!!

WRITER INFORMATION

MUN NAME jana MUN AGE over twenty-one (21+) TIMEZONE pst LOOKING FOR ex’s, friends, lovers, rivals, employee’s, anything and everything

[victoriazoey26]

How to Pay Off High Interest Credit Card Debt

Perhaps like many Americans your New Year’s resolution involves paying down credit card debt. After all, even the most ardent supporter of the plastic hears that little voice in the back of their head “credit card interest rates are a huge ripoff, I shouldn’t use my Visa card as much as I do.” To be sure, if you’re trying to get your financial life in order, taming high interest credit card debt is job number one. Unfortunately, many consumers get caught in the minimum monthly payment trap, leaving stagnant balances that seem to never go away. So how do you go about paying down credit card debt and getting rid of Mr. Visa once and for all?

Damage Assessment

The first step to paying off your credit card debt is to figure out the exact amount that you currently owe. It’s not until you have exact balances and the interest rates you’re being charged that you’ll know how high of a mountain you’re faced with climbing. In addition to outstanding balances, add up the monthly payment for each card and figure out how much of your income is going to credit card payments every month. Organization is key. We’ve created a simple chart to help you organize what you owe.

Break Your Dependence on Credit Cards

In other words, stop using the credit cards! The idea in starting a plan to pay down credit card debt is to attack the principal balances rather than just paying interest every month. The credit card companies want you stuck in debt, feeding them their interest every month. The only way to stop interest from increasing is to stop the balances from increasing. Put together a budget and stick to it, without using your credit cards. Often, aggressive budgeting is the fastest way out of debt. It might hurt at first, but the sense of satisfaction you’ll receive from paying off your credit card debt will far outweigh any temporary inconvenience. If you absolutely need credit cards to live, it might be time to consider filing for bankruptcy.

Pay Off One of the Cards

To gain momentum in your quest out of credit card debt, pay off the smallest card first. Completely retire one of the balances, it feels good. Some will argue that tackling the highest balances first makes sense, but momentum will play a big role in getting you out of credit card debt. Get rid of the smallest card and the rest will start to fall in line.

Pay More Than the Minimum Monthly Payment

Salt Lake City bankruptcy attorney wrote an excellent post on the National Bankruptcy Forum describing the major problems consumers face when they try to pay just the minimum on a credit card. He listed a table showing how long it takes to pay off small debts at low interest rates which we’ve included here:

$1000 balance, 18% interest, minimum payment $100 = 11 months to payoff $1000 balance, 18% interest, minimum payment $50 = 24 months to payoff $2000 balance, 18% interest, minimum payment $100 = 24 months to payoff $2000 balance, 18% interest, minimum payment $50 = 62 months to payoff $3000 balance, 18% interest, minimum payment $150 = 24 months to payoff $3000 balance, 18% interest, minimum payment $100 = 40 months to payoff $4000 balance, 18% interest, minimum payment $200 = 24 months to payoff $4000 balance, 18% interest, minimum payment $150 = 34 months to payoff $5000 balance, 18% interest, minimum payment $200 = 32 months to payoff $5000 balance, 18% interest, minimum payment $150 = 47 months to payoff $5000 balance, 18% interest, minimum payment $100 = 93 months to payoff

As John points out in his article, these figures don’t even factor in administrative or late fees which can add up quickly! The bottom line is that minimum monthly payments on credit cards usually represent interest only, the underlying balances aren’t touched by making these payments. To actually get out of credit card debt it will be crucial to pay more than the minimum monthly payment, there’s simply no other way.

Transfer Debt to Lower Interest Cards

As the table above demonstrates, the credit card companies kill you with high interest rates. As we’ve established, if you’re trying to get out of debt, paying the minimum won’t do. Instead, try transferring balances from one lower interest card to another, and keep doing it as opportunities arise. Many banks offer promotional “teaser” rates to induce consumers to open a line of credit. If you pay enough attention to deadlines, you can move your credit card balances around to banks offering the lowest rate, this will cut down on some of the money you’re throwing away on interest.

Negotiate With The Bank

Many lenders are open to settling past-due credit card bills for less than the full amount owed and a good consumer attorney can aid in negotiating with your credit card lender as a way to avoid bankruptcy. How is this possible? Once a loan goes into default for long enough, lenders no longer carry it on their books as a performing asset. In cases where a consumer has fallen behind for many months, recovering anything at all may be considered gravy by the credit card lender. This doesn’t mean your lender will be a push over, they’ll likely ask that you produce financial information as part of the negotiation process, but to the extent you have some cash to throw at the problem, you might be able to get out of debt for far less than what you owe. In these cases, the amount of debt forgiven will be taxed as income come April. For more information, see: Tax Consequences of Forgiven Debt.

Know When to Look for Help

If you fallen behind on your credit card bills or need credit cards to purchase basic necessities such as groceries and gas, it may be wise to meet with a bankruptcy attorney. Although options outside of bankruptcy should always be explored, filing for bankruptcy protection will eliminate credit card debt as well as medical bills.

Free Consultation with Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

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Source: http://www.ascentlawfirm.com/how-to-pay-off-high-interest-credit-card-debt/

from Securities Lawyer In Utah https://securitieslawyerinutah.wordpress.com/2018/04/22/how-to-pay-off-high-interest-credit-card-debt/

[jenniferramona1]

How to Pay Off High Interest Credit Card Debt

Perhaps like many Americans your New Year’s resolution involves paying down credit card debt. After all, even the most ardent supporter of the plastic hears that little voice in the back of their head “credit card interest rates are a huge ripoff, I shouldn’t use my Visa card as much as I do.” To be sure, if you’re trying to get your financial life in order, taming high interest credit card debt is job number one. Unfortunately, many consumers get caught in the minimum monthly payment trap, leaving stagnant balances that seem to never go away. So how do you go about paying down credit card debt and getting rid of Mr. Visa once and for all?

Damage Assessment

The first step to paying off your credit card debt is to figure out the exact amount that you currently owe. It’s not until you have exact balances and the interest rates you’re being charged that you’ll know how high of a mountain you’re faced with climbing. In addition to outstanding balances, add up the monthly payment for each card and figure out how much of your income is going to credit card payments every month. Organization is key. We’ve created a simple chart to help you organize what you owe.

Break Your Dependence on Credit Cards

In other words, stop using the credit cards! The idea in starting a plan to pay down credit card debt is to attack the principal balances rather than just paying interest every month. The credit card companies want you stuck in debt, feeding them their interest every month. The only way to stop interest from increasing is to stop the balances from increasing. Put together a budget and stick to it, without using your credit cards. Often, aggressive budgeting is the fastest way out of debt. It might hurt at first, but the sense of satisfaction you’ll receive from paying off your credit card debt will far outweigh any temporary inconvenience. If you absolutely need credit cards to live, it might be time to consider filing for bankruptcy.

Pay Off One of the Cards

To gain momentum in your quest out of credit card debt, pay off the smallest card first. Completely retire one of the balances, it feels good. Some will argue that tackling the highest balances first makes sense, but momentum will play a big role in getting you out of credit card debt. Get rid of the smallest card and the rest will start to fall in line.

Pay More Than the Minimum Monthly Payment

Salt Lake City bankruptcy attorney wrote an excellent post on the National Bankruptcy Forum describing the major problems consumers face when they try to pay just the minimum on a credit card. He listed a table showing how long it takes to pay off small debts at low interest rates which we’ve included here:

$1000 balance, 18% interest, minimum payment $100 = 11 months to payoff $1000 balance, 18% interest, minimum payment $50 = 24 months to payoff $2000 balance, 18% interest, minimum payment $100 = 24 months to payoff $2000 balance, 18% interest, minimum payment $50 = 62 months to payoff $3000 balance, 18% interest, minimum payment $150 = 24 months to payoff $3000 balance, 18% interest, minimum payment $100 = 40 months to payoff $4000 balance, 18% interest, minimum payment $200 = 24 months to payoff $4000 balance, 18% interest, minimum payment $150 = 34 months to payoff $5000 balance, 18% interest, minimum payment $200 = 32 months to payoff $5000 balance, 18% interest, minimum payment $150 = 47 months to payoff $5000 balance, 18% interest, minimum payment $100 = 93 months to payoff

As John points out in his article, these figures don’t even factor in administrative or late fees which can add up quickly! The bottom line is that minimum monthly payments on credit cards usually represent interest only, the underlying balances aren’t touched by making these payments. To actually get out of credit card debt it will be crucial to pay more than the minimum monthly payment, there’s simply no other way.

Transfer Debt to Lower Interest Cards

As the table above demonstrates, the credit card companies kill you with high interest rates. As we’ve established, if you’re trying to get out of debt, paying the minimum won’t do. Instead, try transferring balances from one lower interest card to another, and keep doing it as opportunities arise. Many banks offer promotional “teaser” rates to induce consumers to open a line of credit. If you pay enough attention to deadlines, you can move your credit card balances around to banks offering the lowest rate, this will cut down on some of the money you’re throwing away on interest.

Negotiate With The Bank

Many lenders are open to settling past-due credit card bills for less than the full amount owed and a good consumer attorney can aid in negotiating with your credit card lender as a way to avoid bankruptcy. How is this possible? Once a loan goes into default for long enough, lenders no longer carry it on their books as a performing asset. In cases where a consumer has fallen behind for many months, recovering anything at all may be considered gravy by the credit card lender. This doesn’t mean your lender will be a push over, they’ll likely ask that you produce financial information as part of the negotiation process, but to the extent you have some cash to throw at the problem, you might be able to get out of debt for far less than what you owe. In these cases, the amount of debt forgiven will be taxed as income come April. For more information, see: Tax Consequences of Forgiven Debt.

Know When to Look for Help

If you fallen behind on your credit card bills or need credit cards to purchase basic necessities such as groceries and gas, it may be wise to meet with a bankruptcy attorney. Although options outside of bankruptcy should always be explored, filing for bankruptcy protection will eliminate credit card debt as well as medical bills.

Free Consultation with Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Attestation Clause in a Will

I got a new job, can I still File Bankruptcy?

Products Liability Attorney

Child Support Guidelines Reflect Modern Ideals

Want to Get Out of Debt

Estate Planning for Single Parents

from Michael Anderson http://www.ascentlawfirm.com/how-to-pay-off-high-interest-credit-card-debt/

from Utah Bankruptcy Law https://utahbankruptcylaw.wordpress.com/2018/04/22/how-to-pay-off-high-interest-credit-card-debt/

[declankhan]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Repost: http://www.ascentlawfirm.com/setting-up-a-trust/ “Steven E. Rush / Divorce Lawyer Utah” http://www.ascentlawfirm.com/

Repost: https://stevenrushutah.wordpress.com/2018/02/07/setting-up-a-trust-4/ * Steven E. Rush * https://stevenrushutah.wordpress.com/

[shirleydazzle]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Source: http://www.ascentlawfirm.com/setting-up-a-trust/

[loreneweiner]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Source: http://www.ascentlawfirm.com/setting-up-a-trust/

[dunkcarlton]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Source: http://www.ascentlawfirm.com/setting-up-a-trust/

[aretia]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Source: http://www.ascentlawfirm.com/setting-up-a-trust/

[advertphoto]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Source: http://www.ascentlawfirm.com/setting-up-a-trust/

[jimmiekiser]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Source: http://www.ascentlawfirm.com/setting-up-a-trust/

https://realestatelawyerwestjordanutah.wordpress.com/2018/02/07/setting-up-a-trust/

[victoriazoey26]

I got a new job, can I still file Bankruptcy?

Yes.

Yes you can.

Does a regular paycheck disqualify a consumer from filing for chapter 7 bankruptcy?

If you’ve read this blog with any frequency, you’ve undoubtedly seen numerous posts about bankruptcy reform and the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BAPCPA in 2005. Under the “new” law, families that earn above the median income in their state must pass the means test in order to qualify for chapter 7 bankruptcy.

It is possible to file for chapter 7 protection while earning a salary

Will a new job give you a failing grade on the means test and prevent you from filing chapter 7 bankruptcy? Likely, no. First of all earning a salary doesn’t automatically preclude anyone from qualifying for chapter 7. Only individuals and families that earn more than the average in their states must pass the means test in order to qualify and often do. A job at a professional services firm, Like J.P. Morgan, that pays a higher salary, will make the path to bankruptcy harder than a job at Walmart that doesn’t pay as much. However, keep in mind that the income guidelines for chapter 7 look backwards.

Qualifying for chapter 7 looks at past earnings

In addition, if you’ve had a prolonged period of unemployment even a new job with a high salary shouldn’t pose a means test problem.  This is because the means test deducts allowed expenses from your current monthly income (average income over the last six months). If after expenses you have very little “disposable income” you will qualify for chapter 7. The six month look back period allows your period of unemployment to be averaged in with your new salary in calculating your current monthly income. For example, if you have recently landed a job that pays $100,000 annually but have only been working for 2 months, you will likely still qualify to file for chapter 7 bankruptcy because your average income over the last six months (which will include four months of no salary) will put you below your state’s average income. The means test can be complicated, if you have questions, it is wise to consult an attorney. If your attorney advises you that your income is too high for chapter 7, chapter 13 bankruptcy may be a good option.

Don’t Sell Property to Avoid Bankruptcy

Don’t cash in your 401(k) or sell your property to avoid bankruptcy. In the last several months, I have had a large number of people in their 50s and 60s contact me about filing for bankruptcy. In a lot of ways, this recession has hit people in this age group the hardest. Between the layoffs and the tough job market, a lot of people are really struggling. And even when someone is lucky enough to find a job, oftentimes it is at a significantly reduced salary.

The bad economy has caused people to file bankruptcy who didn’t expect to

The fact is that the recession is causing a lot of people to file for bankruptcy who never thought they would. While the recession is is undoubtedly a sad turn of events, I am also seeing an even more disturbing trend. Namely, a lot of them are selling all of their property in an effort to stay current with their bills and avoid filing for bankruptcy. By the time they come to me, they have already gone through everything they own. While these efforts are always well-intentioned, they are catastrophic for their finances. In a lot of cases, people are selling assets that they would otherwise be able to keep if they would have thought about filing for bankruptcy a little sooner.

Chapter 7 divides assets into two piles

When you file for chapter 7 bankruptcy, your assets are divided into two categories: exempt and nonexempt. When you file for chapter 7 bankruptcy, you get to keep your exempt assets and the bankruptcy trustee has the option of taking and selling your nonexempt assets. This distinction is vitally important because in most cases, your retirement accounts and equity in your home are exempt. The amount of the exemption varies from state to state, but the point is this: do not sell exempt property to pay debt that can be discharged in bankruptcy.

Example – mistakenly cashing in a retirement account

For example, let’s say you are in your mid-50s and are having financial difficulty. If you sell your retirement account to keep your head above water and pay credit card bills, you are literally selling your retirement years. Do not liquidate your retirement account to pay off credit card debt, or other debt that can be discharged in bankruptcy. This is especially true when you do not have a lot of time to start saving for your retirement again.

The bottom line about Bankruptcy

Do not go into denial about your financial situation. If you are thinking about selling your retirement account for living expenses, that is a pretty good sign that you should be thinking about filing for bankruptcy. But the only way you can know for sure is if you talk to a skilled bankruptcy attorney about your situation. A bankruptcy attorney will be able to listen to your situation and help you decide if filing for bankruptcy is right for you. Exemptions vary from state to state, and not all debt can be discharged in a chapter 7 bankruptcy. Therefore, be sure to talk with an attorney so you can make an informed decision. But please, do not sell any exempt assets to keep up with your daily living expenses until you have had a chance to talk with a skilled attorney.

Free Consultation with a Utah Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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Source: http://www.ascentlawfirm.com/i-got-a-new-job-can-i-still-file-bankruptcy/

from Securities Lawyer In Utah https://securitieslawyerinutah.wordpress.com/2018/04/21/i-got-a-new-job-can-i-still-file-bankruptcy/

[jenniferramona1]

Bankruptcy Online

Every month, there up to 1 million online monthly searches for the term “bankruptcy” on Google.

Why?

It’s not just the struggling economy. In fact, most bankruptcy lawyers will tell you that a weak economy actually brings bankruptcy filings down because consumers can’t afford legal fees when times are tight. Make no mistake, people go online for bankruptcy information when they are going through tough times and don’t want to broadcast it to the world. Bankruptcy still carries a certain stigma and most people prefer not to air their dirty laundry in public. They turn to Google for confidential answers to their questions about debt. After all, most consumers don’t have a bankruptcy firm on speed dial, but they do use search engines on a daily basis. The internet provides an opportunity to explore options in a confidential setting.

That’s why people look for bankruptcy information online, but can you file for bankruptcy online. Can you hire an attorney to file your case online?

Can you hire an attorney to file bankruptcy online?

For starters, all bankruptcy cases are ultimately filed online through the federal court system. Once you have prepared your bankruptcy paperwork with the help of your attorney (or by yourself if you’re filing pro se), he or she will file it with the court electronically and receive periodic email updates about your case from the court. For example, your lawyer will be the first to know when you receive a discharge because the court order will be delivered straight to their email inbox. The same is true for objections to exemptions, motions and 2004 exams.

However, despite the fact that bankruptcy courts utilize the PACER electronic filing system, it is usually not a good idea to handle a bankruptcy case entirely online. Although a bankruptcy petition can be prepared and filed through email correspondence with your lawyer’s office, there is no substitute for meeting your attorney in person. Filing bankruptcy is a big decision that will have a significant impact on your future. Unless you can’t leave your home for medical reasons, a trip to an attorney’s office is worth the inconvenience so you can go over your options in detail and gain a level of comfort with the person that will guide you through the bankruptcy system.

Things can go wrong in bankruptcy and not all attorneys are created equal. Be skeptical of any firm that offers to prepare your petition without meeting you first, and by all means, sign your paperwork before you agree to have it filed. When you file bankruptcy, you swear under penalty of perjury that the schedules are accurate.

But can I find a bankruptcy lawyer online?

The short answer is yes. As a general rule, you can find good bankruptcy attorneys online but be careful about where you look. It is important to understand what you’re seeing in the search engine results pages (SERPs) when you search for a bankruptcy lawyer. Results at the very top and right of the page are paid advertisements — best to ignore those. The organic results lower down on the SERP are generally more trustworthy as Google requires certain quality signals before advancing a site to prominence in these results.

This is not to say that every firm listed on the first page of Google will be a good firm or a good fit to handle your case, it is to say that digital marketing has become commonplace in the legal community and there is nothing wrong with investigating law firms via the internet. Trust, but verify.

Free Consultation with a Utah Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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from Michael Anderson http://www.ascentlawfirm.com/bankruptcy-online/

from Utah Bankruptcy Law https://utahbankruptcylaw.wordpress.com/2018/04/20/bankruptcy-online/

[declankhan]

Setting Up a Trust

As kids, many of us may have imagined one day having our own money bin full of money like Scrooge from A Christmas Carol. We want it protected from the outside world and free to dive into. As adults, we’ve realized this would be an unsafe to have a big pile of cash laying around. It’s not a good way to protect and store the wealth we’ve earned. But with so many financial options out there, where do we even start? One of your options is setting up a trust or series of trusts. While it’s no giant money bin, a trust can be an effective method of preserving your wealth for your future and for generations to come.

Definition of a Trust

What is a trust fund and how does it work? A trust is “a legal entity that holds property for the benefit of another person, group, or organization,” according to The Balance. The word “fund” in the term “trust fund” refers to a sum of money held by or made available to the trust. Regardless of type or provisions, all trusts have three things: a grantor, a beneficiary, and a trustee. Because I’m an estate planning lawyer, I tell my clients that The grantor is the person who sets up the trust, giving the trust its property and deciding the terms. The beneficiary is the intended manager of the assets in the trust. They can only access the trust as set out by the grantor. The trustee is responsible for overseeing the management of the trust. It can be an individual, institution, or group of advisors.

To be upfront with you, this organization does establish all of the different types of trusts mentioned here. If this is what you need, there is a number and a form on this page to get some extra help or to move forward on getting the right kind of trust established.

Types

There are several types of trusts designed to fit the individual needs of the grantor and beneficiary. CNN says that there are two basic kinds of trusts: living and testamentary. A living trust is set up during a person’s lifetime, and takes effect during it. A testamentary trust only goes into effect after the person’s death. Beyond these qualifications, trust types break down into revocable and irrevocable. A revocable trust allows the grantor to retain control of all assets in the trust, allowing the ability to revoke or change the terms of the trust at any time. Irrevocable trusts, however, are no longer held directly by the grantor. Changes to an irrevocable trust usually can’t be made without the beneficiary’s consent. A big benefit is that appreciated assets within the trust aren’t typically subject to estate taxes. This depends on how it was established.

Once a grantor has chosen his or her trust type, transferred the assets into it, and established the terms, the trust is active.

Managing Your Estate

Everyone has an estate – from millionaires in mansions to a family of four struggling to make ends meet. Your estate encompasses everything you own. Having an estate plan in place means that your assets and property go directly where you want them to after you die. Generally, you have two main options for your estate plan: a living trust and a will. But what’s the difference?

Wills

A will is a written document that indicates how your property will be distributed after your death. It is revocable and can be amended anytime during your lifetime. However, a drawback to a will is that when it’s enacted, everything must go through probate court. A judge must make a ruling before the assets in your estate can get to your friends and loved ones. This is the case whether or not you have a will; your estate still goes through probate. In that case, assets are distributed according to state statutes. Regardless, probate can be a very expensive and time-consuming process. The deceased is not around to fight back, so, in many cases estates are depleted by lawyer fees.

Living Trust

A living trust, on the other hand, provides property and estate management. It not only goes into effect after your death, but can start managing your assets right away. The grantor (the one who set up the trust) is often the initial trustee (who manages the trust) and beneficiary (who receives its benefits). Living trusts are usually revocable and become irrevocable after death. At that time, a successor trustee steps in and new people or entities typically become beneficiaries. Most often the beneficiaries receive trust assets under the terms of the trust. They also avoid extra expenses and the publicity of probate court. The successor trustee that you appoint can be in charge of the trust whenever you want them to. Examples of when this would kick in are upon death or in the case of a mental or physical disability.

Setting up a living trust may be one of the best ways to prepare for your future, and the future of your loved ones. There are several other reasons to set up a trust, including the following:

Caring for minor children – Trusts can specify when the child will have access to the assets

Caring for dependents with special needs – Trusts allow more flexibility than a will in how those heirs can access the inherited property. This is because you can designate dates, amounts, exceptions, etc.

Lowering estate tax – If your estate will be subject to tax, setting up a trust with tax provisions helps avoid some of it

Privacy – Wills become public record after your death, but a trust does not.

Free Initial Consultation with an Estate Planning Lawyer

When you need a probate or estate planning lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Qualified Personal Residence Trust

Parental Alienation and Custody

Joint vs Sole Custody

Estate Planning and Wills

Tax Lawyer

Contract Lawyer

Repost: http://www.ascentlawfirm.com/setting-up-a-trust/ “Steven E. Rush / Divorce Lawyer Utah” http://www.ascentlawfirm.com/

Repost: https://stevenrushutah.wordpress.com/2018/02/07/setting-up-a-trust-2/ * Steven E. Rush * https://stevenrushutah.wordpress.com/