Category: Living Trust
“Estate planning is a crucial part of any holistic financial plan, and financial advisors often work with estate planning attorneys for guidance in this area.” Everyone wins when estate planning attorneys, financial advisors and accounting professionals work together on a comprehensive estate plan. Each of these professionals can provide their insights when helping you make […]
“Avoiding probate usually is the main appeal for living trusts. Trusts also can provide a gentler transition, if the grantor becomes incapacitated.” Any trust created while the person, known as the “grantor,” is living, is known as a “living trust.” However, the term is also used interchangeably with “revocable trusts,” which can be changed according […]
“Your real estate holdings, life insurance, bank accounts and retirement savings won’t magically flow into your trust.” Failing to put assets into trusts creates headaches for heirs and probate hassles, says the article “Once You Create a Living Trust, Don’t Forget to Fund It” from Kiplinger. It’s the last step of creating an estate plan […]
“It’s hard to plan for next week, let alone the future, when our environment, the advice from the experts and indeed the outbreak itself, seems to change on a daily basis.” The fear of the unknown and a sense of loss of control is sending many people to estate planning attorney’s offices to have wills, […]
“As you plan how you will leave your estate, it is important to your family’s future that you leave a legacy with well-executed documents. It’s also essential that you understand all of the roles of the people involved in your estate, especially the person or organization who will manage your estate.” One of the reasons […]
“If you want a legal plan that avoids probate court, there are two options: first, an enhanced life estate deed, and second a living trust. Each has its pros and cons.” There are numerous ways to accomplish distributing property according to specific wishes. A woman with three grown daughters faced a problem about passing down […]
“With all these anxieties and unknowns weighing on your mind, it might feel like there’s suddenly a pressing need to get your affairs in order―just in case.” Most people who contract COVID-19 experience mild symptoms, but it does not hurt to be prepared just in case you need to be hospitalized, explains the article “A […]
“Last wills and testaments, which were invented centuries ago, are the most famous estate-planning documents.” Everyone knows what a last will and testament is. However, a will is not always the best way to distribute your assets, explains the Times Herald-Record in the article “Living trusts are better choice than wills“. Most people think that […]
“When you create a living trust, you also sign a pour-over will. One of the main benefits of a trust is avoiding a court proceeding on death called probate, which is when wills are used.” If the goal of estate planning is to avoid probate, it seems counterintuitive that one would sign a will, but […]
“We are programmed to contribute the “max” to our retirement accounts and we disregard, or do not understand, the pitfalls of an improperly filled-out beneficiary forms.” Ignore beneficiary forms at your and your heirs’ own peril, especially when there are minor children involved, is the message from TAPintoChatham.com’s recent article “Are You Read to Deal […]
