Do I Need a Non-Grantor Trust for Estate Planning?
One of the most useful estate planning tools is a trust, which can be used to create a legacy of wealth and protecting assets. One question to consider when creating one, is whether a grantor or non-grantor trust is more appropriate. A non-grantor trust is any trust that is not a grantor trust.
How Do You Split an Estate in a Blended Family?
Good estate planning must consider more than what you want to happen to your property and for your beneficiaries. It also must consider what you intentionally want to avoid happening.
Why Naming Beneficiaries Is Important to Your Estate Plan
If you’ve ever spent time working through your estate plan, you know how important it is to select and update your beneficiaries.
When Should a Trust Be Reviewed?
Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.
Who Should I Name as Trustee?
You created your revocable living trust to hold your assets. You did so because of the probate avoidance and other benefits. You may have included sophisticated tax-planning provisions in your trust.
Does a Trust Protect You From a Lawsuit?
Trusts can provide certain benefits for estate planning, including asset protection. But can you sue a trust?
How to Approach Parents about Estate Planning
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. However, because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off—and even more pleasing to avoid them altogether.
What Is the First Thing an Executor of a Will Should do?
At some point in your life, there’s a good chance you’ll be tasked with acting as the executor of an estate. The designation is both an honor and an obligation.
Do You Need a Revocable or Irrevocable Trust?
On the surface, the difference between revocable and irrevocable trusts couldn’t be any more straightforward. You can change your revocable trust whenever and however you choose. You can’t change your irrevocable trust at all.
What Is a Dynasty Trust?
If you want to protect your family’s legacy from unnecessary taxes, divorce and creditors over the course of many generations, a dynasty trust could be your best friend.