A last will and testament provides instructions about who should receive a person’s money and property when they die.
Category Archives: Trusts
03
Mar
Mar
Although starting a business is a significant achievement, small business owners cannot coast on past accomplishments. You must look to the future and plan next steps.
10
Feb
Feb
Do you still own the same property or have the same account balances as when your plan was first created? What will the balances be like at your death?
03
Feb
Feb
Parents of a special needs child could purchase life insurance for a child to benefit family caregivers.
27
Jan
Jan
Unlike a will, a trust will help keep your estate from going through an expensive, time-consuming, and public probate process. If you set up a trust, with trustees, you still create a will, but it becomes a pour-over will, which moves (pours) your assets into your trust.
13
Jan
Jan
Although these two types of law differ and apply to varying stages in life, many handle them simultaneously. This is because many people wait till later in life to start their estate planning process.
09
Dec
Dec
Before asset distribution, the estate’s executor should make every effort to pay all outstanding debts. After bills are paid, and the remaining assets are accounted for.
18
Nov
Nov
The key to ensuring that your estate plan will work the way you envision is understanding that how you own your money and property (i.e., how title is held) determines whether your will or trust, or neither, controls who will receive that money and property.
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Oct
Oct
When people create estate plans, they typically focus on distributing their money and property to loved ones. For those interested in multigenerational wealth transfer, consider dynasty trusts.
14
Oct
Oct
The beneficiary of a blind trust also has no knowledge of what goes on with the trust. However, in most cases, the trust-maker is also the beneficiary. That is, the trust contains their personal money and property, and the trustee manages that money and property for the benefit of the trust-maker-beneficiary—the trust-maker-beneficiary just has no knowledge of, or control over, the activities of the trust.