There’s a big misconception out there about trusts and what they can (and cannot) do for an estate. A lot of people think that trusts can be used to avoid inheritance taxes – but that’s not actually true. Trusts can be used to minimize (and sometimes avoid) estate...
A trust can certainly be a useful tool when making an estate plan. You can use it to control how the money that you put into the trust is used in the future. That said, it's essential to carefully consider all of the steps you take when you make this trust. You don't...
Getting remarried when you already have children can be a practical decision. Marrying someone with children of their own means that you can combine forces to parent together. Your children gain a stepparent and stepsiblings, while you gain a spouse and stepchildren....
If you're considering a trust as part of your estate planning, one of the first decisions you have to make is if you want to use a revocable trust – often called a living trust – or if you'd like to use an irrevocable trust. They're similar in some ways, in that...
Some people opt to pass assets down to beneficiaries through the use of a trust. This is an arrangement that enables the assets to bypass the probate process. A trust can be set up based on specific wishes from the creator. When a person creates a trust, the assets...
When you die, the inheritance that you leave behind for your family members will strongly influence how they remember you. Most people want to leave behind resources to reward loved ones and ensure their bright futures. Others may have to consider whether a family...
When your final living parent passes away, you know that you are going to get their assets in one capacity or another. These assets may be put in a will, put in a trust, given as gifts before they pass away or otherwise passed down to the next generation. If you have...
If you’re the executor of an estate that includes a residential property that has to go through probate, you have a considerable responsibility – and a lot of work – ahead of you. Not only do you have to worry about selling the property or distributing it to one or...
When your loved one passes away and leaves a large estate, there are many concerns for you to address. You will have to locate and secure all of the assets in the estate. More assets often means more debt, so you will have to take steps to locate and notify about the...
Baby Boomers have about 70% of the disposable income in the United States. This generation has amassed trillions of dollars that must eventually move down to the next generation. This process, often referred to as the biggest wealth transfer the world has ever seen,...
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