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Totten trusts are essentially bank accounts with a named beneficiary. They are another tool in your estate planning toolkit and can help some of your assets avoid probate upon death. You may have also heard the term, “payable-on-death account” used interchangeably with Totten trust, and that’s because they are basically the same thing. They are both informal revocable trusts that are made when the account holder signs an agreement with the bank which details instructions on how to distribute the contents of the account to the named beneficiaries upon the death of the account holder.
September 5, 2024
Can you change or revoke your trust? What is the process for revoking your estate plan? Can every kind of trust be revoked? Estate Planning attorney Kevin O'Flaherty explains how to revoke a trust.
September 5, 2024
In this article, we will answer “How to avoid trust litigation” by examining what trust litigation is and laying out some of the steps that will protect your trust from litigation.
September 5, 2024
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