Trustee

An individual or entity responsible for managing and distributing trust assets according to the terms set in the trust document. Trustees have fiduciary duties to act in the best interest of beneficiaries.

Tangible Personal Property

Tangible personal property refers to physical, movable items that are neither real estate nor permanently attached to land or buildings. Tangible personal property is distinct from real property and from intangible property, such as stocks, bonds, or digital assets. In estate planning, it’s often addressed through a specific memorandum or provision in a will or […]

Tangible Personal Property Memorandum

A separate written document used in conjunction with a will or trust to specify who should receive specific items of tangible personal property, such as jewelry, furniture, art, or family heirlooms. This tool provides flexibility for making personal gifts.

Trust

A legal arrangement in which a trustee holds and manages assets on behalf of beneficiaries. Trusts can be tailored to control distributions, reduce taxes, and avoid probate.

Trust Administration

Trust administration is the process of managing and distributing the assets held in a trust according to the terms set by the trust document and in compliance with applicable state and federal laws. It typically begins upon the death or incapacity of the person who created the trust (the grantor or settlor) and is carried […]