What Is a Trust and How Does It Work? A trust is a fiduciary arrangement that permits a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts are frequently established to provide legal protection for the trustor’s assets, to ensure those assets are distributed according to the trustor’s wishes, […]

Detailed Documentation Estate planning is essential for those who care about preparing for the future. Knowing that your belongings will be tended to and distributed with your best interests in mind can be a source of relief. However, wills and estate plans can sometimes be easily misinterpreted, leading to disagreements with family and friends about

How Can Living Trusts Streamline the Distribution of an Estate’s Assets? Living trusts are a powerful tool for estate planning that can substantially simplify the process of asset transfer upon death. By helping the estate avoid probate, maintaining privacy, providing flexibility, and offering potential tax benefits, they can significantly ease the burden on surviving family

Using Trusts to Reduce Estate Taxes One of the most effective strategies to reduce estate taxes on large estates is through the use of trusts. Trusts are legal entities that hold assets for the benefit of specific individuals, often with specific conditions attached. There are several types of trusts, each with its own benefits and

5 Questions to Ask About Potential Estate Executors One of the decisions that is commonly made during the estate planning process is naming an executor for your estate. This is the person who acts as the personal representative of the estate, handling administrative probate and estate matters when someone passes away. Some people may make

Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members. Whether you have a dog, cat, parrot, or lizard, there are options you can pursue to help secure their well-being. When you’ve passed away or can

9 Major Life Events That Should Cue an Estate Plan Review While many people put off estate planning discussions, getting ahead of these things within your life can provide peace of mind and help reduce challenges when it comes time for estate administration. In fact, estate planning at an early age puts you in better

3 Potential Benefits of Including POA Forms in Your Estate Plans Many people associate estate planning with making a will, but the process can go much further than deciding how your assets should be divided among heirs when you’re gone. In fact, many estate planning decisions are relevant during your own lifetime. When you work