Why are Trusts a Good Idea?
October 4, 2022
Whether you are trying to protect your assets from possible creditors, prevent young heirs from spending their inheritance or minimize estate taxes, there is likely a trust for you.
What’s a ‘Pot Trust’?
September 27, 2022
A pot trust, also referred to as a discretionary, sprinkling or common pot trust, is a type of trust that can be used by families to pass on assets. With this type of trust, minor children serve as beneficiaries with a trustee that oversees the management of trust assets. The trustee has discretionary power to decide how the trust funds are used to pay for the care and needs of beneficiaries.
Should I have a Charitable Trust in My Estate Plan?
March 17, 2022
A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.
Storing Passwords in Case of Death
February 8, 2022
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
How to Keep the Vacation Home in the Family
September 7, 2021
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
Can Family Members Contest a Will?
June 15, 2021
The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
What Paperwork Is Needed after Someone Dies?
April 12, 2021
While the tasks of dealing with an estate after someone passes may be simple administration, the work associated with it is often quite complicated.
Control of Assets a Key Issue in Deciding on a Trust
February 15, 2021
Avoiding probate usually is the main appeal for living trusts. Trusts also can provide a gentler transition, if the grantor becomes incapacitated.
What You Should Never, Ever, Include in Your Will
January 13, 2021
A last will and testament is a straightforward estate planning tool, used to determine the beneficiaries of your assets when you die, and, if you have minor children, nominating a guardian who will raise your children. Wills can be very specific but can’t enforce all of your wishes. For example, if you want to leave…
Despite Pandemic, Many Still Don’t Have an Estate Plan
November 18, 2020
The Covid-19 has produced a rise in estate planning…but not a large enough one. Most Americans still do not have a last will and testament.