Estate planning is critical to making sure hard-earned wealth does not diminish. The financial wellness of offspring may hang in the balance. A revocable living trust is one tool that estate planners often use in conjunction with a will. These documents keep...
A bypass trust can benefit you in several ways after your spouse dies. Separating your spouse's assets from your own can help you protect your money from creditors, reduce your estate taxes and more. Despite its benefits, the problem with this type of trust is that...
It's a talk that no one wants to have. Sitting down with loved ones to talk about a time when you and your spouse pass away is difficult but extremely necessary, particularly when it comes to caring for your children. First and foremost, you need to know the...
California offers a myriad of trusts that can be established as part of your estate plan. The key is determining which ones are best for your goals and your family. Here we’re going to look at discretionary lifetime trusts – what they do and how they differ from other...
The name "irrevocable trust" suggests that it can never be changed, and that is a general idea. These are trusts that you’re only supposed to make when you’re very sure of exactly how you want to use the assets you’re putting into them. You can’t just alter or cancel...
You have a significant amount in your bank accounts — and you don’t relish the idea of those accounts being passed through probate and being subject to taxation or other fees. You’d much prefer that they pass directly to your heir(s) after your death. At the same...
If you have a spouse or other family members who are not U.S. citizens, there are estate planning strategies you can use to help ensure that they are able to keep as much of the inheritance you leave them as possible. A qualified domestic trust (QDOT) can be a...
A revocable living trust is an estate planning tool that documents the management of your assets after your death. Examples of assets to put in such a trust include: Valuable personal possessions Real estate Investments Bank accounts Some trusts do not allow you to...
Imagine having too much money to know what to do with it. For some people, that is true in life; for others, only in death. If you have children, you may decide that leaving them too much will harm rather than help them. Or perhaps you have no heirs and are not sure...
You make a good living and, like any responsible parent, you want to provide for your children’s future. A trust sounds like a good idea. Before you set one up, however, you need to understand the difference between revocable and irrevocable trusts so that you can...