This form is an irrevocable trust established to provide funds in order to continue a family tradition of giving birthday presents to members of grantor's immediate family and is to continue after grantor's death. The term heirs as used in this trust are those people who would inherit the estate of a deceased person by statutory law if the deceased died without a will. When a person dies without a will, the heirs to their estate are determined under the rules of descent and distribution. The term heirs-at-law is used to refer to those who would inherit under the state statute of descent and distribution if a decedent dies intestate (without a will), and they may or may not be beneficiaries under a will.
King Washington Trust provides a range of financial solutions to assist in the purchase of birthday presents for members of the granter's family and ensure that the tradition continues even after the granter's passing. With their expertise in financial planning and wealth management, King Washington Trust offers various types of trust funds designed to cater to different needs. 1. Revocable Living Trust: A revocable living trust established by the granter allows them to retain control over their assets during their lifetime. It provides funds for the purchase of birthday presents for family members while preventing probate complications. 2. Irrevocable Trust: An irrevocable trust created by the granter allows them to transfer assets to the trust, ensuring they are protected and managed efficiently. This type of trust can be specifically designed to provide funds for birthday presents for family members, even after the granter's passing. 3. Supplemental Needs Trust: This type of trust is suitable for granters who have family members with special needs. The trust ensures that funds are available to purchase birthday presents while not affecting the beneficiary's eligibility for government assistance programs. 4. Testamentary Trust: A testamentary trust is established through a will and is activated upon the granter's death. It can provide funds to purchase birthday presents for members of the granter's family, according to the instructions stated in the will. 5. Generation-Skipping Trust: This trust allows the granter to pass on assets directly to their grandchildren or subsequent generations, bypassing their children. By including provisions for the purchase of birthday presents, this trust ensures that the tradition of gift-giving continues within the granter's family for generations. With King Washington Trust's expertise in trust administration and financial management, they assist granters in selecting the most appropriate trust type to secure funds dedicated to purchasing birthday presents for their loved ones. Their team of financial advisors ensures that the granter's wishes are upheld, allowing the tradition to endure even after the granter's lifetime.King Washington Trust provides a range of financial solutions to assist in the purchase of birthday presents for members of the granter's family and ensure that the tradition continues even after the granter's passing. With their expertise in financial planning and wealth management, King Washington Trust offers various types of trust funds designed to cater to different needs. 1. Revocable Living Trust: A revocable living trust established by the granter allows them to retain control over their assets during their lifetime. It provides funds for the purchase of birthday presents for family members while preventing probate complications. 2. Irrevocable Trust: An irrevocable trust created by the granter allows them to transfer assets to the trust, ensuring they are protected and managed efficiently. This type of trust can be specifically designed to provide funds for birthday presents for family members, even after the granter's passing. 3. Supplemental Needs Trust: This type of trust is suitable for granters who have family members with special needs. The trust ensures that funds are available to purchase birthday presents while not affecting the beneficiary's eligibility for government assistance programs. 4. Testamentary Trust: A testamentary trust is established through a will and is activated upon the granter's death. It can provide funds to purchase birthday presents for members of the granter's family, according to the instructions stated in the will. 5. Generation-Skipping Trust: This trust allows the granter to pass on assets directly to their grandchildren or subsequent generations, bypassing their children. By including provisions for the purchase of birthday presents, this trust ensures that the tradition of gift-giving continues within the granter's family for generations. With King Washington Trust's expertise in trust administration and financial management, they assist granters in selecting the most appropriate trust type to secure funds dedicated to purchasing birthday presents for their loved ones. Their team of financial advisors ensures that the granter's wishes are upheld, allowing the tradition to endure even after the granter's lifetime.
