Trusts are flexible and powerful legal tools, in the right hands. However, when used inefficiently, they can become unmanageable, recklessly expensive, or serve as the equivalent of using a cannonball to swat a fly. If you want to make the most of your trust, start with why you might need one. In most cases, this …
Trusts can be a powerful legal tool if you know how to implement them. A trust allows you to safeguard assets from creditors and better prepare your estate for the event of your death, and your incapacity. Furthermore, trusts sidestep the probate process, which can take well over a year under certain circumstances. But trusts, …
A testamentary trust is a trust agreement written and designed to go into effect after your death. As opposed to the more popular living trust, wherein the trust becomes valid as soon as it is signed and notarized, a testamentary trust is established through a last will and testament. Trusts and wills are often compared …
Trusts are powerful and versatile legal entities, allowing for asset protection, the elimination of conflicts of interest, minimizing tax liabilities, and the quick distribution of wealth before and after death. Yet to perform any of these functions, trusts must be written and managed in a certain way. There is a lot that goes into developing …
Trusts can be a powerful estate planning tool. Among other things, trusts allow you to allocate assets for long-term investment to pay dividends for your children and grandchildren, protect certain assets and investments from creditors, minimize the tax impact of your death, and drastically simplify the distribution of your estate. But what if you want …
There are a few key benefits of a living trust including estate planning flexibility and benefits for the living. Let’s see if a living trust is the right option for you. Living trusts are one of the most effective and valuable tools in an estate planner’s arsenal. In contrast to a last will and testament, a …
Not all families are harmonious, and not all estates are simple. When there’s more to your familial quarrels than a little pettiness, then it pays to be more specific and protective when it comes to estate planning. We all pass away eventually, but without exercising specific control over how your assets are distributed when you’re …