This essay sheds light on what are trust funds, demystifies the different types of trust funds, reveals the best type of trust fund to have, delineates the benefits of having a trust fund, and expounds upon the problems with not having a trust fund. Unbeknownst to most people, a trust fund refers an entity that is established by a trustor for the purpose of providing financial stability and financial security to the beneficiaries of the trust. The assets of the trust fund are transferred to the trustee by the trustor of the trust. The trustee of the trust manages the trust fund’s assets and is responsible for carrying out "the directives of the trust". The trustee of the trust should act in the trustor’s best interest and should not renege on carrying out "the directives of the trust". The trustee of the trust is entrusted with the responsibility of doling out the assets of the trust to the beneficiaries of the trust in accordance with "the directives of the trust". The beneficiaries of the trust receive the assets from the trust fund. The assets that comprise a trust fund typically consist of investment securities and fiat currency. The assets that comprise a trust fund can however consist of other types of assets and are not limited to just consisting of investment securities and fiat currency. The assets that comprise a trust fund can, for instance, also consist of real estate proprieties, businesses, and life insurance policies. Prospective trustors will often procure the services of a trust attorney to assist them with establishing trusts. The perquisites of establishing a trust can vary from trust to trust. Succinctly stated, a trust fund can be deemed an entity that holds assets of the trust. A trust fund is often replete with assets. The beneficiaries of the trust receive the assets from the trust fund which allows them to amplify their wealth. The parties of a trust fund encompass the beneficiaries, the trustee, and the trustor. The trustor of the trust establishes the terms appertaining to the distribution of the assets of the trust fund. The trustee is expected to dole out the assets of the trust fund to the beneficiaries of the trust based on the terms that are stipulated in the trust agreement. There are an exorbitant amount of disparate types of trust funds. The type of trust funds are not limited to being revocable trust funds and irrevocable trust funds. Other types of trust funds encompass the “spendthrift trust fund, the testamentary trust fund, the qualified personal residence trust fund, the land trust fund, the grantor retained annuity trust fund, the asset protection trust fund, the blind trust fund, the charitable remainder trust fund, the generation-skipping trust fund, the individual retirement account (IRA) trust fund, the qualified terminable interest property trust fund, the totten trust fund, and the marital trust fund”. One of the primary types of trust funds are irrecoverable trust funds. An irrevocable trust “refers to a type of trust where its terms cannot be modified, amended, or terminated without the permission of the trustor’s beneficiary or beneficiaries. The grantor, having effectively transferred all ownership of assets into the trust, removes all of the grantor’s rights of ownership to the assets and the trust”. An irrecoverable trust cannot be modified once it is established. The assets of an irrecoverable trust fund are transferred by the trustor to the trustee of the trust. The trustee of the irrecoverable trust manages the trust fund’s assets and is responsible for carrying out "the directives of the irrecoverable trust". The trustee of the irrecoverable trust should act in the trustor’s best interest and should not renege on carrying out "the directives of the trust". The trustee of the irrecoverable trust is entrusted with the responsibility of doling out the assets of the irrecoverable trust fund to the beneficiaries of the trust in accordance with "the directives of the irrecoverable trust". Irrevocable trust funds are established for the prospect of protecting assets. Establishing an irrevocable trust can be an integral component of estate planning. Establishing an irrevocable trust can bear steep costs. As of April of 2022, if you procure the services of a trust attorney to assist you with establishing an irrevocable trust fund, then it can cost between $3,000-$6,000 to establish an irrevocable trust. Establishing an irrevocable trust fund can be deemed to be a highly time-consuming and complex process. When assets are transferred to irrevocable trust funds, they are deemed to be protected from creditors.

This essay sheds light on what is a will, demystifies the different types of will, explicates the benefits of having a will, and reveals the problems with not having a will. Succinctly stated, a will refers to a document that specifies how a person would prefer to have his assets distributed in the tragic event of his passing. If a person lacks a will, then his requests appertaining to how he would prefer to have his assets distributed in the tragic event of his passing are inapt to be granted. There are a copious amount of disparate types of wills. One common type of will is “a last will and testament”. The “last will and testament” demystifies how a person would prefer to have his assets distributed in the tragic event of his passing. For instance, “a last will and testament” may instruct an executor of the estate to distribute a person’s assets to other specific people, such as his family members or friends, in the event of his passing. The executor of the estate has the onerous burden of administrating the estate. The “last will and testament” can serve as “the foundation of an estate plan”. Even though the “last will and testament” is not the only document that is utilized in an estate plan, it however can serve as the presiding document which is utilized to guide the lengthy process of settling an estate. The establishment of the “last will and testament” renders an estate all the more aptly poised to be settled in a manner that is aligned with the testator’s requests in the event of his passing. A testator’s beneficiaries that are listed in his “last will and testament” do not have to be limited to his friends and family members. For instance, a testator of “a last will and testament” is at liberty to have his assets doled out to organizations in the event of his passing. A testator of “a last will and testament” can even have his assets dispensed to a church in the event of his passing. A testator of “a last will and testament” has the autonomy to choose the parties to whom his assets will be bequeathed to in the event of his passing which can allow him to provide his assets to his family members and friends if he chooses to do so for the prospect of helping them to be able to ameliorate their lives. Being bequeathed assets can have bearing on helping the testator’s family members and friends to be able to ameliorate their lives if it allows them to be able to augment their standard of living. People are eminently eager to elevate their standard of living and are able to more easily facilitate the elevation of their standard of living if they have been bequeathed liquid assets. If someone is bequeathed real estate properties, then it can also help them to be able to enhance their standard of living, especially since real estate properties can potentially provide them with perpetual cash inflows in the form of rental income if they incessantly rent them out to tenants. “A last will and testament” does not need to remain outmoded if a testator is keen on modifying the provisions that comprise the “last will and testament”. It is possible for “a last will and testament” to be updated with the usage of codicils. Codicils allow the provisions of a will to be modified if the testator is adamant about modifying the provisions in his will. With the usage of codicils, a testator of a will can add provisions to his will, alter the provisions in his will, or revoke the provisions in his will. A codicil is not a will, but rather is a separate document which “references and amends the will”. The provisions of a will are not immutable during the lifetime of the testator since he can modify the provisions of a will with the utilization of codicils if he chooses to do so. Even though it is possible for a person to draft a will without procuring the services of an attorney to do so, a prospective testator should procure the services of an estate planning attorney to assist him with establishing a will. Prospective testators will often procure the services of an estate planning attorney to assist them with establishing a will. There are complexities involved in establishing a will that prospective testators are unfamiliar with dealing with. It can be a time-consuming process and complex process for a prospective testator to establish a will even with the assistance of an estate planning attorney to assist him with establishing a will. An estate planning attorney can draft a will on behalf of the testator to assist him with establishing a will which significantly eases the process of establishing a will on the testator’s end.

'The Principles of Equity and Trusts' brings an engaging contextual approach to the subject. Graham Virgo overcomes the complex issues in the study of trusts and equity with unparalleled clarity, offering a rigorous and insightful commentary on the law and its contemporary contexts.

Take a journey through this book replete with warm reminders of how the little things in life can help you through life's big and small trials and tribulations. Warm your heart with endearing examples of God's grace and Gods love. Inside you will find amusing short anecdotes that will give you self reflective indications of why we should all feel blessed no matter what our station in life.

An essential money-saving resource for every Australian who pays tax – fully updated for the 2019-2020 tax year. 101 Ways to Save Money on Your Tax – Legally! is the tax guide every Australian should own. Step-by-step instructions from Adrian Raftery, akaMr. Taxman, will show you how to leverage every available deduction to lower your tax bill and keep more of your hard-earned money. Thoroughly updated for the 2019-2020 tax year, this new edition gives you the latest information on changes to the tax codes and how they affect your situation. Tax laws are constantly changing, but you don’t have to pore over piles of legislation to file your tax accurately and completely – that’s what Mr. Taxman is here for. Don’t let yourself become one of the people who overpay, find out what you actually owe and prepare for even better savings next year. This guide removes the stress and confusion from tax season and helps you file on time with no mistakes. Whether an individual, married couple, investor, business owner or pensioner, this guide will help you: understand how your taxes have changed for 2019-2020 reduce your tax bill, potentially by $100s or $1000s learn plenty of expert tips, avoid tax traps and find the answers to frequently-asked questions explore topics such as medical expenses, levies, shares, property, education, business and family expenses, superannuation and much more protect yourself from errors, audits, overpayments and other common problems. When it's time to file your tax, turn to 101 Ways to Save Money on Your Tax – Legally! Maximise your deductions and get the best possible tax return. Don’t pay more than you have to, Mr. Taxman is here to help.

Mr. Taxman is back to save you even more on your 2017-2018 tax 101 Ways to Save Money on Your Tax — Legally! is the quintessential guide for every Australian taxpayer. Updated annually to keep pace with changing tax laws, this book shows you how to maximise your return and keep more of your hard-earned money. Why pay more than your fair share? This year's edition explains all of the changes to the May 2017 budget, and provides indispensable advice from Mr. Taxman himself! Find answers to your questions and identify every deduction that applies to you; leverage your business, education, family, property, medical expenses, levies, shares and superannuation to receive your maximum return. This invaluable guide goes beyond tax prep to help you position yourself for an even better return next year! Learn where and how to invest, the traps you should avoid and how you can start planning now so you can owe less the next time around. It's not about "cheating the system" — by clarifying obscure language and complicated rules, this book simply helps you reclaim the money that belongs to you. Understand how changes to the tax laws affect you for 2017-2018 Maximise your deductions and avoid overpayment Get organised with tips and advice for your specific situation Avoid tax traps, correct errors and get the return you deserve Taxes are important for a functional society, but the government is only entitled to so much of your money. So many Australians overpay their tax every year — it's time to separate yourself from the crowd. Pay what you owe, but not a cent more, with the clear, expert guidance in 101 Ways to Save Money on Your Tax — Legally!

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