Category: Trust Administration

Naming a beneficiary is a crucial step in estate planning. It promotes your wishes after you’re gone, streamlines inheritance, and spares your loved ones undue stress.

The terms ‘revocable trust’ and ‘living trust’ are commonly heard in an estate-planning context. You may hear people say, ‘My house is in trust for my children,’ or something along those lines.

Trusts are a smart and well-known estate planning tool that names or appoints a trustee to administer and distribute the assets according to the terms. However, how often do estate owners ask, “What if something goes wrong, and the trustee breaches their duties?”

Estate planning can be a sensitive topic for families to talk about. Here’s how to get past the awkwardness and discuss estate planning with your family.

Estate planning for singles: make a will, draft a durable power-of-attorney, name an attorney-in-fact, and a health care proxy.