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How Marital Trusts Help Protect Blended Families

How Marital Trusts Help Protect Blended Families

POSTED ON: December 26, 2023 BY: Troy Werner
Understanding marital trusts is crucial for couples looking to secure their financial future and provide for the surviving spouse tax-efficiently. This article is a guide to marital trusts, how they work and their advantages and disadvantages. With the potential to safeguard assets and ensure that they reach the intended beneficiaries, marital trusts can be an effective part of a comprehensive estate plan, particularly for those in a second marriage or a blended family. What Is a Marital Trust? A marital trust is a type of irrevocable trust and is crafted to benefit…
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Essential Estate Planning Considerations for Minor Children

Essential Estate Planning Considerations for Minor Children

POSTED ON: December 25, 2023 BY: Troy Werner
It is paramount for parents to have an estate plan that not only takes care of their personal and financial matters but also addresses the well-being of their minor child or children. Delving into estate planning considerations can be overwhelming, especially when young children are involved. This guide will provide you with a comprehensive understanding of estate planning for minors. Estate Planning: Why Is It Essential for Parents with Young Children? Estate planning for parents with young children involves setting up mechanisms to ensure that, in the event both parents pass away, their children will…
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Select What Kind of Trust Works Best for Your Estate Plan? What Kind of Trust Works Best for Your Estate Plan?

What Kind of Trust Works Best for Your Estate Plan?

POSTED ON: December 22, 2023 BY: Troy Werner
Trusts are common. However, there are numerous variations, and there is still considerable confusion about what is legal and what is not.
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Don’t Make These Estate Planning Mistakes

Don’t Make These Estate Planning Mistakes

POSTED ON: December 21, 2023 BY: Troy Werner
It can be difficult to put a value on a lifetime of accumulation—your money, your home, its furnishings, souvenirs from vacations and treasured gifts from your family. It’s a joy to collect these items over the years. However, too few consider what will happen to it all when they’re no longer around.
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Are You Neglecting Your Estate Planning?

Are You Neglecting Your Estate Planning?

POSTED ON: December 20, 2023 BY: Troy Werner
Estate planning is a vital part of financial management that often gets overlooked.
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What Should I Know About a Trustee?

What Should I Know About a Trustee?

POSTED ON: December 19, 2023 BY: Troy Werner
A trustee is a person or entity who’s appointed to manage assets held in trust on behalf of a third party. There are few formal restrictions on who can serve as a trustee.
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The Differences Between a Living Will and a Last Will and Testament

The Differences Between a Living Will and a Last Will and Testament

POSTED ON: December 18, 2023 BY: Troy Werner
Estate planning legal matters are already confusing enough, so it certainly does not help to have similar names for related but completely different documents.
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Using Living Trusts to Protect Your Business Assets

Using Living Trusts to Protect Your Business Assets

POSTED ON: December 15, 2023 BY: Troy Werner
Business owners work hard to build their assets and establish their companies. Therefore, it’s essential to ensure that these assets are protected for the business’s continuity and the owner’s peace of mind. One way of safeguarding these assets is by utilizing a living trust. This article discusses how a living trust can protect your business assets. What Is a Living Trust? A living trust is a legal entity created to hold assets, often for the benefit of certain individuals. It’s called a “living” trust because it’s established while you’re alive, unlike a testamentary trust, which comes into effect upon your…
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What Does the Executor of an Estate Do?

What Does the Executor of an Estate Do?

POSTED ON: December 14, 2023 BY: Troy Werner
Dealing with death is never easy and overseeing the estate can be complicated. However, staying organized can help you manage things smoothly.
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Strategies to Build and Preserve Generational Wealth

Strategies to Build and Preserve Generational Wealth

POSTED ON: December 13, 2023 BY: Troy Werner
Generational wealth is a topic of immense importance. It represents the financial legacy one generation leaves for the next, enabling families to build a stable foundation for their descendants. However, preserving this wealth for future generations requires careful planning and management. This article delves into the intricacies of preserving generational wealth and the strategies wealthy families employ to ensure that their assets last for generations. What Is Generational Wealth? Generational wealth refers to assets passed down from one generation to the next. This can include property, money, stocks, businesses and other valuable resources. Many wealthy families aim to grow their…
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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. See full disclaimer here.
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