Estate planning encompasses various tools and strategies to manage and distribute an individual's assets after death. One lesser-known but effective tool in this process is a Totten trust, sometimes referred to as a payable-on-death account. This instrument allows for...
One reason that people sometimes give for disinheriting someone is that that person has frivolous spending habits. It may just mean that the older person who is doing the estate planning does not have the same sorts of values that the younger person – who will inherit...
One of the compelling reasons why people set up estate plans is to protect their assets and preserve their legacies. But what if you are worried about some of your beneficiaries’ abilities to prudently manage their inheritance? If you are concerned about your...
You have probably heard about the benefits of using trusts when making your estate plans. Unlike a traditional will, a trust will help avoid the probate process and protect your family's wealth while giving you greater flexibility and control over your estate....
Many individuals place their assets into a living trust to make transferring assets to their loved ones easier once they pass away. It's generally impossible for beneficiaries to contest a will before a testator's death. That same logic doesn't apply to trusts,...
It's not uncommon for a decedent's heirs to question how they're going to keep on going once their loved one dies. Death is especially difficult for minor heirs. They may be prone to burning through what you leave them unless you put something in place to make sure...
When it comes to estate planning, you never want to sell yourself short. You should do whatever you can to protect the well-being of you and your family, both now and in the future.And for this reason, it never hurts to learn more about the benefits of a living trust....
There are a lot of estate planning tools at your disposal. While most people think that a simple will is enough to meet their needs, this oftentimes isn't the case. While a simple will may provide some estate protections, they often don't go far enough to distribute...
Recently on the blog we discussed spendthrift trusts and how they can fit into your estate plan. This type of trust isn't right for everyone, though.Yet, those seeking to create an estate plan shouldn't write off trusts altogether just because a spendthrift trust...
Estate planning can serve many purposes. In most cases, though, those who engage in estate planning simply want to provide for their loved ones as much as possible. Fortunately, there are many estate planning tools that can help further that goal. But estate planners...
