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2. Interest on Lawyers' Trust Accounts - Wikipedia

   en.wikipedia.org/wiki/Interest_on_Lawyers'_Trust...

   The reason the accounts were non-interest-bearing is that prior to 1981, commercial banks were prohibited by federal law from paying interest on demand deposits (e.g. checking accounts). In addition, the lawyer could not earn interest on the account [ 5 ] because it is unethical for attorneys to derive any financial benefit from funds that ...

3. Are Credit Unions FDIC Insured? The Safety of Credit Union ...

   www.aol.com/credit-unions-fdic-insured-safety...

   The NCUA insures share accounts — called deposit accounts at banks — such as checking, ... Irrevocable trust accounts. Suppose someone has an individual account of $50,000, a joint account of ...

4. If you want to help your kids bypass probate when you die ...

   www.aol.com/finance/want-help-kids-bypass...

   Or, create an irrevocable life insurance trust (ILIT) to avoid estate taxes. ... Checking and savings accounts. If you use these to pay monthly bills, you may run into financial complications ...

5. Revocable trust vs. irrevocable trust: key differences - AOL

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   An irrevocable trust may be used when the creator is trying to limit estate taxes and protect assets from being taken by creditors since the trust’s assets are no longer considered theirs. The ...

6. Estates and Wills: Should You Set Up a Revocable or ... - AOL

   www.aol.com/estates-wills-set-revocable...

   An irrevocable trust can also protect the beneficiary’s inheritance from collections or creditors. Money in an irrevocable trust does not have to be used to pay debts. ... Jackson accounts for 3 ...

7. Grantor retained annuity trust - Wikipedia

   en.wikipedia.org/wiki/Grantor_retained_annuity_trust

   A grantor transfers property into an irrevocable trust in exchange for the right to receive fixed payments at least annually, based on original fair market value of the property transferred. [2] At the end of a specified time, any remaining value in the trust is passed on to a beneficiary of the trust as a gift. Beneficiaries are generally ...

8. United States trust law - Wikipedia

   en.wikipedia.org/wiki/United_States_trust_law

   This may even include situations where there may be a conflict in the grantor's direction and the actual terms of the trust. [15] In an irrevocable trust, there has developed a growing use of a so-called trust protector. This is generally an unaffiliated, third party (often a lawyer or an accountant) who is granted the power to amend or change ...

9. Five items to leave out of a revocable living trust

   www.aol.com/finance/want-help-kids-bypass...

   Or, create an irrevocable life insurance trust (ILIT) to avoid estate taxes. Assets held in other countries. ... Checking and savings accounts. If you use these to pay monthly bills, you may run ...