What is a Disregarded Entity?

If you disregard something, you ignore it. The term “disregarded entity” is used quite frequently in the IRS world and in the legal world, so you’ll need to understand both aspects of the term. An entity is a legal structure that has legal rights, including being recognized

Changing Trustees

When you created your trust, you did a lot of thinking and figuring and finally named someone to be your successor trustee in case anything happens to you.  But, as your life moves along, the choices you made when you created your trust may have to be

Duties of a Successor Trustee/Personal Representative

Duties of a Successor Trustee/Personal Representative

What are the duties of a successor trustee or personal representative and when do they kick in? I had an interesting conversation with a woman the other day.  She had just finished her trust and had named her daughter as her personal representative.  Her daughter came to