People are living longer and longer than they used to. While that is a great thing, it is beginning to cause issues for many estate plans, especially when trusts are involved.
Read More »3 Tips for Overwhelmed Executors
While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being a personal representative requires a high level of organization, foresight, and attention to detail to meet all responsibilities and ensure that all beneficiaries receive the assets to which they […]
Read More »3 Celebrity Probate Disasters and Lessons to Learn from Them
With all the wealth accumulated by the rich and famous, one would assume that celebrities would take steps to protect their estates once they pass on. But think again: Some of the world’s richest and most famous people have passed away without a will or a trust, while others have made mistakes that tied their […]
Read More »6 Ways A Trust Protector Can Help You
Trust protectors are a fairly new and commonly used protection in the United States. In short, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for a long period of time. Trust protectors ensure that trustees: maintain the integrity of the trust, make solid distribution […]
Read More »5 Mistakes Made by Successor Trustees (and How to Prevent Them)
When establishing a trust, you need to give serious thought to choosing your successor trustee—the person who will administer your trust once you’re no longer able to do so. This individual ideally should be:
Read More »Estate Planning After Divorce
One area that is often overlooked in the divorce process is the need to update estate planning. Most people would agree that their ex-spouse is the last person they want to inherit their assets when they die—or to have that person make life and death decisions for them. But that is exactly what […]
Read More »5 Reasons Why Uncle Bill May Not Make a Good Trustee
If you have created a dynasty trust that you intend to last for decades into the future, choosing the right trustee is critical to the trust’s longevity and ultimate success.
Read More »Revocable Trust vs. Irrevocable Trust: Which Is Best for You?
Trusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when.
Read More »3 Examples of When an Irrevocable Trust Can – and Should – Be Modified
Did you know that irrevocable trusts can be modified? If you didn’t, you’re not alone.
Read More »How to Choose a Trustee
When you establish a trust, you name someone to be the trustee. A trustee basically does what you do right now with your financial affairs–collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate records and generally keep things organized and […]
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