What is the not dead equivalent to an estate?

stares at error messages

stares at error messages

Readn' Tea Leaves
kiwifarms.net
Joined
Dec 7, 2020
An estate is what owns your property when you die. Is there a legal entity that is just like an estate but can be used to own property while you are still alive and not yet dead? Maybe a living trust, but then what is a trust? If so, is a trust what an estate is equal to when you die?
 
Sort by date Sort by votes
stares at error messages said:
No. I'm just working on a project where I need to have an entity owned by another entity that's like a human but not a human and not a corporation.
Click to expand...
A trust is probably what you want, then. Get a really good lawyer who actually does their job to put it together based on your exact needs, and don't get charged $1,000 for some bullshit copy-pasted legal template by some shyster.

There are a lot of horror stories where trusts are created and the money is legally stolen by the bank or lawyers. Usually, the original creator either dies or is incapacitated, and because the trust was written badly, no family or associates can access the trust. That shit ends up going to the bank. Whoever the trust is for, make sure they have a way to get out of it if there's ever a problem with the bank or the lawyers. In courts, trusts are legally ironclad so if you fuck it up you can never get it back,
 
  • Agree
  • Informative
Reactions: Spiny Rumples and Cliff Booth
Upvote 0 Downvote
Bad Take Crucifier said:
A trust is probably what you want, then. Get a really good lawyer who actually does their job to put it together based on your exact needs, and don't get charged $1,000 for some bullshit copy-pasted legal template by some shyster.

There are a lot of horror stories where trusts are created and the money is legally stolen by the bank or lawyers. Usually, the original creator either dies or is incapacitated, and because the trust was written badly, no family or associates can access the trust. That shit ends up going to the bank. Whoever the trust is for, make sure they have a way to get out of it if there's ever a problem with the bank or the lawyers. In courts, trusts are legally ironclad so if you fuck it up you can never get it back,
Click to expand...
That's very helpful. Great, now I know what to look out for. Thanks.
 
  • Like
Reactions: Bad Take Crucifier
Upvote 0 Downvote
You must log in or register to reply here.
Back