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A bypass trust is a long-term planning device. It is typically created as part of an A/B Living trust estate plan after the death of the first spouse to die. During life, a married couple transfers ownership of property into a trust.
For example, a bypass trust is designed to meet the cash-flow needs of a surviving spouse, but it will transfer to the surviving spouse's beneficiaries, which are named in the trust, after his or ...
A trust is a document that allows you to keep control of your money and property and designate who receives it once you die. “Revocable” means you can change the terms at any time while you ...
A trust can turn non-taxed accounts into taxable ones. But you can make the trust itself the beneficiary so that these accounts pass directly to your trustees without some IRS agent crashing the wake.
The performance test or "PT" is a section of bar examinations in the United States that is intended to mimic a real-life legal task that future lawyers may face. Of the three parts of most states' bar exams -- MBE, essay, and performance test—the performance test is supposed to be the most reflective of how well a candidate will perform outside of an academic setting.
A trust fund is a legal entity that holds and manages assets on behalf of another individual or organization. A will, on the other hand, is a legal document that directs the distribution of assets ...
A living trust is a legal arrangement that allows you to pass assets on to other people. It's similar to a will in that regard, but with one key difference. The benefit of a living trust is that ...
The United States Department of Education recognises the Council of the ABA Section on Legal Education and Admissions to the Bar as a professional accrediting agency for law schools in the U.S. [23] American law schools that are accredited by the council are termed "approved" by the ABA, which indicates the law school was found to be in ...