One of the best tools in estate planning is using beneficiary designations for your accounts. In simple terms, a beneficiary designation directs who will receive the funds or assets after you pass away. A beneficiary designation is often made when establishing a financial account, retirement account, or life insurance policy. Often, people select their spouses […]
Category Archives: Estate Planning
The Importance of Funding Your Trust: An Essential Step
This article is part of a 5-part series on Estate Planning with Revocable Living Trusts. If you don’t know how a Revocable Living Trust works and want to learn about the general principles of a trust, start here. Many folks make the mistake of obtaining a Revocable Living Trust and skip a crucial step – […]
Why Every Trust Needs a Will: The Pour Over Will
Why Every Trust Needs a Will: The Pour-Over Will Every trust needs a will. While a trust can serve as your primary estate planning document, it is also important to have a will as a safety net. A trust needs to be properly funded to function. Over the years, you may forget or not […]
Five Red Flags of Living Trusts to Watch Out For
Five Red Flags of Living Trusts When creating a trust, it is important to make sure that the document and work is done correctly. Unfortunately, many online services sell wills and trusts as products, and not as part of an estate plan. Estate planning can be complicated. What works for one estate may be useless […]
Is a Living Trust right for my estate plan?
Is a Living Trust right for my Estate Plan? Whether you need a Will or Trust depends upon a variety of issues. But here are four important factors that can make a trust a good option for your estate plan. Avoiding probate court expenses The assets and size of your estate Privacy Administration Of course, […]
What is a Trust, the Benefits, & How They Work
What is a Trust, the Benefits, & How They Work There are many different kinds of trusts. There are irrevocable trusts, gun trusts, testamentary trusts, and more. All have different uses, but the trust structure most commonly used by estate planning attorneys is the revocable living trust (known as a living trust). In this article, […]
