by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Chartered Trust And Estate Planner?A Chartered Trust and Estate Planner (CTEP) is a professional who specializes in trust and estate planning. CTEP is also a credential awarded to these professionals by the Global Academy of Finance and Management (GAFM)....
by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Irrevocable Income-Only Trust?An irrevocable income-only trust is an estate planning tool used for Medicaid planning. It allows donors to protect their assets from being auctioned to pay for nursing home care expenses. This way, the assets can be...
by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Inter-Vivos Trust?An inter-vivos trust is a type of trust used in estate planning that highlights the distribution of properties according to the terms of the trust. An inter-vivos trust is created during the lifetime of the trustor, in this trust, a...
by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Charitable Gift Annuity?A charitable gift annuity is a contract or an agreement between an individual and a charity, where such individual transfers assets to a charity in return for a partial income tax deduction and a regular lifetime income sizable to the...
by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Conservatorship?Conservatorship refers to a United States’ legal concept where a court judge gives an individual the authority to manage the financial and personal affairs of an incapacitated person. The conservators establish and monitor the physical...
by TheBusinessProfessor | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Beneficial Interest?A beneficial interest refers to the right to get benefits on assets held by a different party. The beneficial interest often relates to issues addressing trust accounts. For instance, most beneficial interest arrangements take the form of...
