How Does a Living Trust Work? A living trust is one of the most efficient estate planning tools available but there are some common misconceptions. According to a survey made by Caring.com only 42% of responders have created or prepared an estate plan. There are three reasons why someone may put off their estate planning:…
Continue reading ›Common Mistakes with Living Trusts One of the first things we tell our clients is that the key to better protection for your assets is to prepare and fund your trust correctly. If you do not take the right steps, your family may end up in probate court. Failing to properly prepare will cost you…
Continue reading ›Losing a loved one is a somber, sad event. Dealing with the aftermath is difficult for family, relatives, and friends. Besides the emotional toll, survivors have an unenviable task. They must determine how to transfer or inherit property from the person who died. In estate planning terminology, the person who died is the decedent. The…
Continue reading ›Most of my clients create living trust centered estate plans. Living trusts have several advantages over will-centered estate plans. Drafting the living trust; however, is just the first step. Properly funding your trust is critical to ensure that you are prepared for the future. An error in the funding process could result in your assets…
Continue reading ›A living trust is a legal document that describes how you want to transfer your assets when you die. In this fashion, it’s like a will but creating a living trust centered estate plan has several advantages. It allows you to avoid probate. The transfer of your assets can remain confidential. If you merely have…
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