A living trust won’t be for everyone. However, it can provide big benefits for some. Many people use a living trust for one big reason: avoiding probate. However, there are other reasons you should seriously consider.
There’s a lot to keep up with when estate planning. These tips could help, from updating beneficiaries after changing your plan to understanding will-substitute options, like transfer on death.
If you want to exclude someone from the will, is it best to leave them a dollar so they can’t challenge being excluded? Can you put in a provision that if they challenge the will, they lose everything?
It can be fun to daydream what life would be like if you hit the Powerball for $1.7 billion, but for most people, windfalls aren’t quite as exciting.
A trustee is a person or entity who’s appointed to manage assets held in trust on behalf of a third party. There are few formal restrictions on who can serve as a trustee.
There are some significant benefits of creating a living trust.
The modern blended family has far more needs when it comes to estate planning than a traditional family. Here are some challenges, tips and solutions.
If you die without a will, you die “intestate” and your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.
If having assets distributed outright to a beneficiary could cause potential problems, there are several reasons to think about creating a trust.
The term ‘estate planning’ conjures specific ideas about leaving assets to heirs, fighting over Mom’s jewelry and lengthy entanglements with the probate court.