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A living trust is a legal financial planning tool you can use to merge your property and assets into a single sheltered entity. Although several types of trusts exist, a living trust can allow you to maintain control over your trust assets while you are alive. At the...
Estate planning is not a straightforward process, but it can allow any individual of legal age and sound mind and body to safeguard their best interests and that of their loved ones. Understanding the basic steps involved in estate planning is crucial. Gather and...
People often mentally associate trusts with very large estates or huge resources, like a business owned by a family. However, trusts are not simply tools for those who are incredibly wealthy. They are also useful for individuals who want to achieve very specific goals...
Unfortunately, many of us wait too long to plan our estates. One consequence of this is that some insurance policies, like life and long-term care insurance, only get more expensive as we age. Indeed, for those who wait too long, long-term care insurance may be too...
Estate planning might seem straightforward at first glance, but the process can be more complicated than you think depending on your circumstances. Those who are in a blended family need to pay particularly close attention to how they structure their estate plan, as...
Trusts are a valuable estate planning tool, especially if you want to minimize the impact of taxes on your estate and intended beneficiaries. However, some people hesitate to take advantage of trusts because of the following misconceptions: It is only for the rich...
Estate planning can help you and your beneficiaries reduce the impact of hefty estate taxes. These are taxes that the government usually takes upon your death and the distribution of your properties to your beneficiaries. Estate taxes might take a significant portion...
Initially, only you, your trustee, and your attorney will see your will and trust. Naturally, most people do not want to share copies of their will and trust with their family, as it can lead to conflict. On the other hand, it could help reinforce your intentions...
Fusing the words “blind” and “trust” in relation to your assets sounds unsettling, but it actually makes sense in some situations. As the name suggests, a blind trust is a type of living trust when a grantor and their beneficiary are blind about how a third-party...
Dividing a loved one's estate after they pass can be long and tedious. If a will indicates their wishes, the surviving family members would better know what to do next. However, that is not always the case. Sometimes, the deceased has no will, and the family must let...