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Alabama Trusts Part II: When and How to Use Specific Trusts
Webinar is now available on-demand. NOTE: On-Demand webinars are not eligible for CLE credit.
Presented on Wednesday, June 14, 2017
WEBINAR SNAPSHOT: Learn which types of trusts are most appropriate given your clients' situations.
What type of trust is best for your client? An irrevocable trust cannot be altered, changed, modified or revoked after its creation (absent extreme extenuating circumstances). A “living” trust, created during the lifetime of the grantor, can be modified or revoked. A spendthrift trust does not allow the beneficiary to sell or pledge his or her interest in the trust and is out of the reach of the beneficiaries’ creditors until it is distributed to the beneficiary.
In the second part of this two-part webinar, the presenter will discuss what to put into the trust and the different types of trusts that may be created.
- Revocable Trusts v. Irrevocable Trusts
- What should go into the trust?
- Is anything "automatically" put into a trust?
- What is an "executory trust"?
- "Living trust"?
- "Spendthrift trust"?
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About Your Presenter:
James B. Griffin
James B. Griffin, LLC
James B. Griffin founded James B. Griffin, LLC in Mountain Brook and serves clients in Alabama and Georgia who are pursuing the American dream of property ownership, business ownership, and investing in their future. The firm’s mission is the protection of private property rights, especially in real estate, the creation of wealth, and the preservation of assets through estate planning, especially for those heirs who are not capable of taking care of themselves. He is a Birmingham native who graduated from Gordon College in Massachusetts with a B.A. in Economics and History, from the University of Alabama with a M.A. in History, and from Vanderbilt University Law School. He began his practice at a large firm in Atlanta and then in a small firm for most of a decade in his wife's hometown of Covington, Georgia, before returning home to Alabama. His practice today concentrates on estate planning, trusts, estate administration, property, and real estate.