A revocable living trust (RLT) is a commonly used estate planning tool. But what exactly are RLTs, and what do they accomplish? Who do they impact, and how can they be changed? What are Revocable Living Trusts? Trusts are legal entities that hold title to property for the benefit of a living person, and a […]
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If your loved ones or family members decide to contest your will or trust after you’re gone, the results can be financially and emotionally disastrous for everyone involved. Your loved ones can be torn apart, your wishes disregarded, and your estate depleted, and you won’t be able to control the process at that point. But […]
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Your Revocable Trust: It May Not Protect You from Lawsuits Here’s a common myth about revocable trusts: Many people believe that when they set up and transfer assets to a Revocable Living Trust, lawsuits can’t touch these assets, and anything placed in the trust will be protected from legal action. This is a false assumption […]
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You’d like to leave your assets to your children and other beneficiaries after you’re gone, and you’re inclined to choose the simplest and easiest form of distribution. Unfortunately, without some built-in protections, a simple distribution can make your inheritance vulnerable to creditors, predators, ex-partners, or divorcing spouses, as well as a second estate tax upon […]
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Trusts can be an essential tool for estate planning purposes, and a trust can take any one of several different forms. The form you choose will vary based on the intentions and goals you have for your estate plan. The inheritor’s trust, for example, can be used to protect an inheritance if you’re expecting to […]
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The word trust or “trust fund” is often wrongly associated with great wealth and the kinds of financial tools that most of us will never need to use. But this association is grossly mistaken. The truth: A trust is nothing more than a functional, effective estate planning device that can help any one of us […]
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Considering the myriad of trusts available, creating an estate plan that works can seem daunting. However, that’s what I, as an estate-planning attorney, do every day. I know the laws and will design a plan which addresses your specific situation. With a wide variety of protections and choices, these types of trusts support financial planning […]
Read MoreTrusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when. While there are many types of trusts, the major distinction between trusts is whether they […]
Read MoreWhile many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you’re the beneficiary of a trust created by your great grandfather over seventy years ago that no longer makes sense. Or maybe you created an irrevocable trust over twenty years ago that no longer makes sense. Is there […]
Read More(This is part 4 in a 4-part series). Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a revocable living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) or probate […]
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