Description
Trusts are indeed magical. They solve an array of real-world problems and make life better for many people. But they can be fickle. Trusts must be tailored to each client's situation, and doing this requires a deep understanding of the various ingredients that can be added to each one. By understanding these ingredients and how they interact, we lawyers will be able to solve many of our clients' problems. We might even venture so far as to call ourselves legal bakers!
Learning Objectives
What is a trust?
What is a revocable trust?
What problems are revocable trusts typically used to solve?What should a drafter consider when crafting a revocable trust?What do you do with an existing revocable trust?