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Which is the best way to protect your assets, smooth the transition of your estate and make life easier for you and your heirs: the Power of Attorney or a revocable Living Trust? Most estate plans need both a power of attorney and revocable living trust. The real issue is which should cover the bulk of your assets? Over the years, I’ve heard from […]
There are many good reasons to name a trust as an IRA beneficiary. But there also are some hazards to avoid. Trusts can make an Inherited IRA last longer. Through the trust terms and appointment of the trustee, you control how much money is distributed to the trust beneficiaries. For example, the trust can retain […]
Most estates have a trust or two, especially as the estate is more valuable. People spend a lot of time working with their estate planners on the details of the trusts. Yet, picking the trustee or trustees often is an overthought. That’s a big mistake. This article describes how the estate of one of the […]
Many Estate Planning goals can be accomplished without wills and trusts. Using other tools can spare you some of the expense and complications of wills and trusts. These strategies also cause the assets to avoid the delay and expense of probate, transferring the title of each asset automatically to the person you intended. But these […]
Many estate planners recommend revocable Living Trusts to their clients. Often simply called living trusts, the tool has been around for centuries. Despite its longevity, many people don’t realize the many advantages of using living trusts in their estate plans. Usually living trusts are recommended as a way to avoid probate, and they are one […]
Too many married couples are making a big mistake. They believe current estate tax law exempts them from having to plan or consider estate taxes in their plans. That misunderstanding could lead to problems. While the estate tax law enacted in early 2013 has many benefits, you need to know how to maximize them. Two […]
Living Trusts are probably the most used way to avoid probate. They are mainstays of Estate Planning in states with expensive or time-consuming probate procedures. Last month we discussed the different ways of avoiding probate, including the advantages and disadvantages. This month we discuss the nuts and bolts of operating living trusts. In this discussion […]
You probably need at least one trust in your Estate Planning setup. It seems almost all estate planning has one these days. Many problems can be solved and goals achieved with the right trust. Trusts no longer are restricted to the very wealthy. Too many people are intimidated by talk of trusts. You don’t learn […]