Many people include trusts in their estate plans or even in their long-term care planning when they get close to retirement age. Trusts can reduce the value of your estate, help you qualify for Medicaid or protect your assets from taxation and creditor lawsuits....
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Trusts
Assets you should not include in your living trust
A living trust, just like a will, is an important estate planning tool that lets you spell out who will get your assets when you pass on. A living trust allows you to “put assets” into it. You can put different types of assets such as bank accounts and stocks in your...
Trust beneficiaries in California have many rights
As the beneficiary of a trust in Sacramento, you might feel that the trustee is taking advantage of you or over-managing your trust. Sometimes, trustees that want to manage funds ethically and responsibly may infringe upon the rights of a beneficiary. Most of the...
How to choose a suitable successor trustee
Many of us have managed our own affairs for the majority of our lives. As a result, the prospect of arranging for someone else to take care of them can be daunting. Often, this is a decision that people will put off as long as possible. However, it can be beneficial...
Which assets can you use to fund a living trust?
Contrary to popular belief, estate planning isn't just for individuals of endless means. It's instead something that everyone should do -- and that may include funding a trust. Living trusts, and more specifically, revocable ones, have become increasingly popular for...
How to ensure your children can manage their eventual inheritance
It is a wonderful thing to be able to leave substantial resources for your children when you die, but an inheritance can certainly have a dark side to it. An inheritance could help your family members start a business, be used to pay off your student loans or to put...
Repairing a broken trust that has outgrown its usefulness
A trust can be a very valuable part of an estate plan. The control it gives you goes well beyond what you would get with a will. You can really make decisions about exactly how your assets can be used. For instance, a common example is leaving money to a young heir...
Should I create an incentive trust?
When you become a parent, you soon learn how to motivate your child. If you have more than one child, you will notice that each responds best to different types of motivation. Creating an incentive trust is one form of motivating your children. However, while it works...