What Happens to a Trust After Death? Why It Matters for Taxes When someone passes away, their revocable living trust usually becomes irrevocable. At that point, the trust becomes its own taxpayer—and that comes with important tax implications. One of the most surprising? Trusts are taxed much more quickly than individuals. In fact,…
Ensure Your Property Insurance Is Updated After a Title Transfer Transferring real estate into a trust or business entity is a common estate planning strategy to protect assets and avoid probate. However, these transfers can unintentionally impact insurance coverage, leaving homeowners vulnerable if not properly addressed. With the recent Los Angeles wildfires, ensuring adequate…
