Tag: Irrevocable Trust
“In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.” Privacy is just one of the benefits of having a trust created as part of an […]
“Movie scenes where a deceased tycoon’s will is read to a roomful of shocked and bitter relatives make for great drama, but drama is the last thing anyone wants, when seeking to preserve an estate for future generations.” Using an irrevocable trust ensures a far smoother transition of assets than a will, and also offers […]
There are many trusts and they fall into two categories. Estate planning has many options to achieve various purposes and trusts are one of the key ways to accomplish those goals, according to the Aiken Standard in “ON THE MONEY: A look at different types of trusts“. Some are created by the operation of a […]
If you decide on a trust, which one is best? The question of whether you need a trust or not in your estate plan is best answered after a discussion with an estate planning attorney. However, here is some preliminary guidance from U.S. News & World Report in “8 Things to Know About Trusts“. Revocable […]
Why is the revocable trust so appealing? You can change it whenever you’d like. You do not have to have a lot of money or assets in order to benefit from the use of trusts, according to Barron’s in “Why a Trust is a Great Estate Planning Tool – Even if You’re Not Rich“. Many […]
Trusts have been around for a very long time and it is important to understand how they work. A trust can be quite complicated. That is why you need good legal representation in order to use one properly, according to the Pittsburgh Post-Gazette “Do I need a trust?“. Trusts are created using a tailored trust […]
A family fight over an estate can be destructive but a good estate plan can reduce the chances of that battle beginning. It is a fact of life that all fights cannot be avoided but there are steps that can reduce the chances of conflict over an estate, according to the Lodi News-Sentinel in “Avoid […]
Taxes and inheritance issues go together like Halloween and trick or treating. Tax planning is a critical part of estate planning, and families who wish to transfer assets from one generation to the next need to prepare for both aspects, as settling an estate can easily become quite complicated. Many estate plans include the use […]
Trusts are the misunderstood poor cousins of wills. They do not have to be overly complicated and, depending on the circumstances, may be better than a will for achieving certain estate planning goals. More people than you would think should consider using a revocable trust to dispose of assets, as discussed in MoneyWatch, “5 reasons […]
Trusts are a time-tested pragmatic tool to help individuals and couples achieve specific goals, whether they are related to transferring assets, managing tax liabilities or protecting yourself or your family from other financial threats. Trusts are not just for the wealthy. However, they are not do-it-yourself projects. There are many different kinds of trusts, and […]
