Dependents with permanent disabilities and special needs often qualify for government support such as medical insurance and financial assistance. However, coming into a large sum of money from an inheritance might jeopardize this funding. Knowing when to consider a...
You have a range of options for how to set up your estate plan. There are various tools you can use or include. One option is a trust. If you do not know much about this financial vehicle, you should take the time to learn a little about what makes a trust unique and...
If you are the trustee of a trust, you have a serious responsibility to everyone associated with the trust. In some cases, part of your administration duties is to ensure you keep everyone aware of any changes or details of the trust. California Legislative...
Creating a trust allows you to pass money or property to family, friends or an organization of your choice without going through probate. However, the task of setting up your trust is not over when you sign the documents to create your trust. You have to fund your...
If you want to create a trust for your family, there will be important duties your trustee should carry out. In general, a trustee must honor the wishes of the person who created the trust and carry out duties owed to beneficiaries. Depending on the trust you create,...
As you get deeper and deeper into the estate planning process, you will inevitably begin to recognize opportunities to avoid (or mitigate) expenses against your estate. Taking action to settle liabilities before your death, covering your funeral costs and avoiding...
As a fiduciary to a beneficiary, there requires a long-standing commitment to arrange financial details, make important decisions regarding a trust and keep an impartial head about things even when beneficiaries get heated over the division of trust assets. As Forbes...
An “estate plan” is a collection of legal documents written by an attorney and signed by you. They may tell the story of how you want to be treated when you get older or sick. They may say who you want for guardian of your kids. Then, at your death, these documents...
Many people assume that a will is the cornerstone of any good estate plan, but the truth is that wills are the most rudimentary of estate planning documents. Survivors can contest a will, and wills are subject to probate, which is an often lengthy and expensive...
There is no perfect trust. They all have their pros and cons. When individuals do thorough estate planning, however, they may come across a trust that feels absolutely perfect for their needs. The key is knowing what the options are to choose wisely. Understanding...
