Tag: Trusts
Do you have a revocable living trust? Are you thinking about creating (or updating one) in the New Year? Either way it is important to transfer your assets into that trust, including any real estate that you own. Estate planning attorneys who draft trusts for their clients always advise those clients to transfer assets into […]
A fool and his money will go separate ways. So it is with many an inheritance. People often fear that leaving large sums of money to their relatives will result in those relatives blowing the money on things they do not need. A recent case in the United Kingdom demonstrates that this is not an […]
People often fight over trusts for a wide variety of reasons. One of the most frequent conflicts over trusts occurs when the trustee and the beneficiaries do not see eye to eye. The person who creates a trust is always the beneficiary of the trust, especially after he or she dies. Yet, it is usually […]
Today, a 65-year-old man has a life expectancy of 84 while a 65-year-old woman has a life expectancy of nearly 87, according to the Social Security Administration. That increased longevity has changed all kinds of financial planning, such as retirement calculations and long-term care insurance costs. But its impact on trusts and estates is only […]
How do you protect yourself? Be on guard and on the lookout. Don’t be a victim. Here are just a few warning signs and common tactics used by trust and annuity peddlers. Not everyone understands estate planning clearly, and unfortunately there are some bad apples out there that will try to take advantage of this […]
Of course, in most families, the split is an equal one, giving adult siblings no reason to quibble over the disposition of cash and other assets. Yet some parents decide to single out one or more children for a bigger, smaller or differently structured inheritance. Even if the reasoning is valid — perhaps one child […]
Over the years, we’ve seen estate plans fail to do what they were intended to do. For your estate plan to remain a valuable asset for you and your heirs, you would be wise to avoid these eight common mistakes. Decide to get my estate in order, check. Get my estate plan prepared, check. Am […]
Are you childfree? Are you planning with an elder parent? Do any of your potential beneficiaries have special needs that must be taken into consideration? Are any of your beneficiaries minors? The first step of planning is to take a moment to consider what makes your situation unique. Although estate planning has many aspects, it’s good to start with the […]
Inheriting in trust can mean a lot of different things, but usually comes with benefits that are not available otherwise. Consider establishing an estate plan so your beneficiaries can inherit in trust. You may know you want to give an inheritance to your heirs, but do you know the right way to do it? Let’s […]
If the SCF represents a good cross section of the country (it really tries), that means that overall about 0.95 percent of Americans have a trust fund from their parents. Have you set up a trust fund for your kids? If not, you might think trusts don’t apply to your financial situation. But what if […]
