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 Regardless of a family’s financial situation and assets, estate planning is an important matter that should be addressed ahead of time. While there is a common misconception that this is reserved only for the wealthy with a laundry list of assets, estate planning is applicable to a large number of people. In fact, an estate is the total of many commonly owned assets like a home, vehicle, and banking account. A proper estate plan transfers assets into a trust where a trustee can effectively manage those assets.
6/22/2023
How Do I Trust Thee... Part III Many Estate Plans rely upon a revocable trust as one of the foundational documents in the plan to avoid probate. Sometimes, plans include irrevocable trusts to achieve tax-driven results or for other reasons. No matter which kind of trust a client considers, of the many decisions that clients make when creating an Estate Plan, naming a trustee tops the list in importance. Some clients prefer to name an institution or entity to serve as trustee.
6/22/2023
How Do I Trust Thee... Part II Many Estate Plans rely upon a revocable trust as one of the foundational documents in the plan to avoid probate. Sometimes, plans include irrevocable trusts to achieve tax-driven results or for other reasons. No matter which kind of trust a client considers, of the many decisions that clients make when creating an Estate Plan, naming a trustee tops the list in importance. Clients often want to serve as trustee, usually to retain a degree of control over the assets placed in the trust.
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6/22/2023