Tag: Trusts
Some parents want to give everything to their children right now … but wait! Unless you have an estate plan, before your children can inherit the estate it must to go through the probate process. That can be both expensive and time-consuming. Therefore, many parents decide to give their children everything now. However, it might […]
Flexibility can lead to the creation of a better legacy than anticipated. When people go to an estate planning attorney, they sometimes already have a good idea regarding what they want to accomplish with their estate plans. That is often a good thing. If a person is flexible and willing to consider options, it is […]
Myths are spread from person to person and by the Internet. Correcting the myths isn’t an easy task. The world of the will and the trust has created some basic estate planning myths through the years. However, they can be corrected, according to TC Palm in “Common misconceptions about wills and trusts.” These myths include: […]
Individual circumstances determine the best type of trust for you. Much of the confusion over trusts is a result of some impressive sounding names that do not actually describe what the trust accomplishes. Therefore, deciding on which type of trust is the best one by name is not the right way to think about trusts. […]
Some estate battles are predictable and quite costly to both finances and family. If the main instrument used to distribute an estate is a will that has to go through probate, the legal issues can often lead to huge battles that could be avoided by using a trust, according to the Times Herald-Record in “Trusts […]
A trust is a good estate planning tool. However, it is not necessarily for everyone and every plan. Despite extensive advertising by non-attorneys selling trusts, the real fact is that not everyone needs one. If they do need a trust, there are many important decisions that need to be made to avoid a disaster. There […]
A trust can solve a lot of problems, if you are the primary provider and pass away. A good way to make sure your family gets the money they need to meet bills and expenses after you are gone, is to avoid probate, according to The New York Times in “Life After Your Death? Why […]
There are many, many reasons why people need an estate plan. There are so many reasons why people need a will, that in all likelihood everyone needs one, according to The Bellingham Herald in “Here are seven reasons you want to protect your family with a last will and testament.” The reasons include: Without a […]
If you end up needing Medicaid, the government will look closely at your assets. There are some ways around the problem of having assets and needing Medicaid. A trust is one of the answers, according to the Times Herald-Record in “Benefits of Medicaid Asset Protection Trust.” A Medicaid Asset Protection Trust is a trust that […]
The distribution of real estate can be a good deal or a bad deal. One way to avoid real estate going through probate is to put someone else’s name on the ownership of the asset. However, that almost always comes out badly, according to the Daily Republic in “All Things Real Estate: Living trust best […]
