Trusts and Estate Planning
Trusts play a big part in estate planning. What you don’t know about them can hurt you and your beneficiaries’ financial health and possibly your own. A trust is a legal entity – just like a corporation or a person. It holds assets for a beneficiary. The beneficiary could be you or another person. A trust document states the [...]
Categories: estate planning, trusts Tags: estate planning, irrevocable, revocable, trusts
Estate and Trust Planning
A trust serves to separate legal and equitable title. In plain English, this means that a trust holds an asset (any asset like a house, car, or bank account) in the name of one person (called the Trustee), but that the asset is really for the benefit of someone else (called the beneficiary). Why have trust and pursue trust planning? [...]
Categories: estate planning, trusts Tags: estate planning, trust planning
Estate/Trust Administration- What’s Involved When Someone Dies
When an individual dies, assets of the decedent may be transferred based on how their titled or a named beneficiary. For example, assets held as joint tenants with right of survivorship pass directly to the other joint owner. Similarly, IRA accounts pass directly to the named beneficiaries as do payable on death accounts, transfer on death property, and most life insurance [...]
Categories: estate planning, trusts, wills Tags: estate/trust administration, probate, trust, will
Estate/Trust Administration- What's Involved When Someone Dies
When an individual dies, assets of the decedent may be transferred based on how their titled or a named beneficiary. For example, assets held as joint tenants with right of survivorship pass directly to the other joint owner. Similarly, IRA accounts pass directly to the named beneficiaries as do payable on death accounts, transfer on death property, and most life insurance [...]
Categories: estate planning, trusts, wills Tags: estate/trust administration, probate, trust, will
Will Planning and Will Preparation
Will planning, trust planning and estate planning is not just for older people. It’s for anyone that wants to avoid heartache for those they love. It’s simply a asset of instructions to distribute property to those who you want to have your property. If you have a will your property will go to those you want to have it and [...]
Categories: estate planning, trusts, wills Tags: trusts, wills
Trust Income for Your Beneficiaries
One of the topics we cover on this blog is estate planning as its unlikely you will spend every last dime before you die. So let’s consider trust planning and how to leave assets to your heirs, just in case there’s some money left over. I am a big fan of leaving money in trust to provide trust income to [...]
Categories: estate planning, trusts Tags: beneficiaries, estate planning, trusts, trusts planning
