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It is important to review your trust if there are significant changes in your personal circumstances, such as a death, a divorce, the birth of a child or grand-child, or if there have been significant changes in your personal finances.
The best way to protect your home from probate is to transfer it into a Living Trust. Creating a Living Trust allows for the easy transfer of your home and saves thousands of dollars after you pass away.
Preparing for the administration of your digital assets upon your incapacity or death should be part of your comprehensive estate plan. Learn more about updating or creating your estate plan, which may include digital assets.
Living trusts are created for many reasons, including (1) avoiding probate; (2) maintaining privacy; (3) planning “trust funds” for beneficiaries who need assistance managing their inheritance; and (4) incapacity planning.
An important part of your estate plan is providing for those who depend on you – especially your pets! A Pet Trust is the best way to provide for your beloved dog, cat, bird or other cherished pet, and to ensure their proper care if you pass away before them.
When I meet with clients one of the first questions they ask me is “What is a Living Trust?” A living trust is a legal document that allows you to designate who will inherit your house, your personal belongings, and your money when you pass away.
When someone you love and care about is helpless due to a disability or illness, legal protection can be put in place to keep them safe. Guardianships and conservatorships are legal devices that specify a court-appointed caretaker to administer the affairs of someone who has become unable to protect or care for themselves.
A big part of estate tax planning is reducing inheritance. There are a number of devices you can put into place to reduce or avoid the inheritance taxes.
There are many types of trusts that can be part of a comprehensive estate plan. These trusts can offer significant benefits, including tax benefits, to your beneficiaries and to you. The following trusts may be of great value with your advanced estate planning and your overall estate plan:Educational Trusts:Educational trusts can be created to help beneficiaries pay for college or other schooling. However, there are now many tax-advantaged educational accounts to pay tuition and other school-related costs for young people that do not require an [...]
On June 26, 2013, the US Supreme Court in a 5-4 decision in United States v. Windsor declared unconstitutional Section III of the Federal Defense of Marriage Act (DOMA) which defined marriage solely as a legal union between a man and a woman. This landmark decision has far-reaching implications that significantly expand estate planning and tax-planning opportunities for same-sex married couples. Under the Supreme Court’s ruling, same-sex couples who are legally married now enjoy marital recognition at both the federal and state level. This ruling [...]