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Trust Principal means passive assets held in the trust. For instance, if a person transfers stocks into a trust, those stocks are considered principal of the trust until they are sold, at which point they are treated as income. The same can be said of the family home. If the home is owned by the trust, it is considered principal. However, when the family sells the house, the proceeds from the sale are considered Income. Distributions of principal from a trust are not taxable to the beneficiaries.
At GoGo Estate®, we help our clients create estate plans on their own time and at a price they can afford.
Revocable Living Trust
Powers of Attorney
Probate Avoidance
Asset Protection
Trust Binder
$300 Signing Fee (Optional)
Last Will and Testament
Powers of Attorney
Simple Planning
No Probate Avoidance
Will Binder
$300 Signing Fee (Optional)
Health Care Declaration
Health Care Powers
Financial Protection
$300 Signing Fee (Optional)
Revocable Living Trust
Powers of Attorney
Probate Avoidance
Asset Protection
Trust Binder
Signing Included
Last Will and Testament
Powers of Attorney
Simple Planning
No Probate Avoidance
Will Binder
Signing Included
Blended Family Trust
Powers of Attorney
Probate Avoidance
Protect Family Assets
Trust Binder
Signing Included
Health Care Declaration
Health Care Powers
Financial Protection
Signing Included
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GoGo Estate® is a fictious name registered and owned by The Taormina Firm, LLC, a law firm providing estate planning services in Missouri. The choice of a lawyer is an important decision and should not be based solely upon advertisements. The information on this website is for general information purposes only. Nothing on this website should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.