Like many people, you may have put much thought into how best to protect your assets and preserve the value of your financial accomplishments for the benefit of your loved ones. When you establish a trust, someone has to administer and manage it – this article is about deciding who’s the best fit for this […]
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What is a Trustee? Trusts are legal entities into which you can transfer your property, accounts, and assets for the benefit of a living person. Many people establish trusts as an alternative to a Last Will and Testament. Two Types of Trusts A revocable living trust is a trust you create and retain control over […]
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When doing your estate planning, you may choose to have a revocable living trust as the foundation of your estate plan as opposed to a Last Will and Testament. A trust allows you to avoid probate, protect inheritances, and plan for when you can no longer manage your affairs. A revocable living trust is created […]
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Megan and Dan are interested in purchasing a timeshare in a condominium complex on their favorite beach. They have the opportunity to buy a two-week block of time that is fixed and a one-week block of floating time. This schedule works for them as they take a vacation at the same time each year. They […]
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Almost all would agree that 2020 was a year like no other. The lockdowns and the relentless barrage of news about COVID-19, the death rate, and problems with health care made even the most optimistic pause to consider their own mortality. Estate planners reported that an escalating number of new clients and clients they had […]
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Larry and Janae are newly married with four children between them. Janae lost her spouse to cancer two years ago. Before Larry and Janae married, Janae and her two children lived in their family home. Since getting married, Larry and Janae and all four children live in the home owned by Larry and his previous […]
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A trust is an important estate planning tool that can protect your assets and distribute them to your loved ones according to your wishes after you pass away. When a trust is created, the trustmaker appoints someone else (the trustee) to manage the accounts and property placed inside the trust for the benefit of the […]
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Instead of a will or joint ownership, many people today are replacing those common estate planning tools with a revocable living trust. A revocable living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (which may be necessary if you become incapacitated) as well as probate (the court process that takes […]
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Coronavirus has been a world-altering event, and for some people, what begins as a small cough can quickly escalate into a serious illness. Thankfully, for most, the symptoms appear to be mild. But it’s crucial for everyone, especially those in good health, to take steps to protect those around us who are more vulnerable if […]
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Estate planning for couples with disproportionate assets who are married for the second or third time can be tricky. One solution—the Lifetime QTIP Trust—allows the well-to-do spouse to maintain control of their property and wealth, but also protect and provide for the other spouse. Creating a Lifetime QTIP Trust A “QTIP Trust” (qualified terminable interest […]
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