by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Blind Trust? A blind trust is a type of trust in which the beneficiaries of the trust are not aware of the holdings of the trust; instead, the trustees have full knowledge or discretion over the holdings of the trust. Also, the grantor or trustor has no...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Bare Trust? A bare trust refers to a basic trust where a beneficiary has all the rights to the trusts assets, capital, and income earned from the assets. Bare trusts are mostly utilized by parents and grandparents when they want to hand over the assets to...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is Probate? A probate refers to a lawful procedure in which steps are taken to review the validity and authenticity. It is about the management of the will of a person who has recently died. The jury is responsible for appointing an executor mentioned in the will...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Accumulated Income Payment? Accumulated Income Payments (AIPs) refers to the Canadian Registered Education Savings Plan (RESP), a valuable saving plan which allows parents, grandparents or guardians to save for their childs college fees. This RESP plan is...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Living Trust? A living trust is a legal document authorizing a trustee to manage a section of assets belonging to a beneficiary during his or her lifetime. An individual may choose a trustee and give him or her the responsibility of taking care of his or her...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Trustee’s Acceptance of Office? A trustee is an individual or an organization that has the responsibility of administering a property for specific purposes. An acceptance of office by a trustee refers to the consent of a trustee (an individual or an...
