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Estate Planning Tips for Women #3: Trusts Can Be Your Best Friend Again, it can seem like a “trust” is Instead, trusts can be used to make sure you pass on the most of your estate possible to your beneficiaries Beyond that, trusts can save you tax money now and can also allow you to make specific provisions for how the assets of the trust are to be used. For example, if you are set on your children attending college, you can earmark funds in the trust specifically

Then, any property in the probate court “pours over” into the trust. according to the trust agreement. Key Features Include: Assets transfer to a living trust. Trust handles principal distributions. Will ties up loose ends. trust with precision while unfunded assets will be in probate court and poured back into the trust.

, 90-unit rental building his father developed in 1960—into the Bernard and Anne Spitzer Charitable Trust The trust has been a big patron of organizations such as the Public Theater and City College. put another development bought for $165 million in February by the family business into a charitable trust Deal (December 18, 2015) “Eliot Spitzer has started splitting up late father’s empire” #EstateTax #TrustsandEstates

A trust is another legal document that can help you manage your assets during your lifetime and after A Pet Trust You can include a provision in your estate plan to establish a pet trust if you have pets A pet trust allows you to set aside funds to provide for your pets’ care after you pass away. A Unique Trust A trust is a legal document that can help you manage your assets during your lifetime There are several types of trusts, each with unique benefits.

If you own property, a living trust may help ensure that your assets are properly distributed when you

they are properly cared for – a guardian and a trustee. A trustee will handle financial matters for your child in your place. Post-mortem Documents Post-mortem documents, like a last will and testament, trust, or testamentary trust Your trust and guardian documents allow you to set out your views and expectations of your children if Many people do not know that a trust can be the named beneficiary of the policy while your children are

steps you should take when considering how to best protect you and your loved ones: Create a Will and Trust A will is one of the most important aspects of a person’s estate plans, but without a trust in place, A trust ensures that the right assets go to those you intended. Trusts and wills work in conjunction to directly instruct the transfer of assets, and if done correctly It is far better to make plans in advance to leave the job to a trusted advisor.

Sometimes, in addition to a will, it is necessary to set up a trust. Trust advantages One of the big advantages of trusts is that they allow property subject to the trust of the trust immediately upon the individual’s death. Trusts are also useful for large estates, as they can help avoid taxes. trust are not accessible by the public.

Vanderbilts and the Rockefellers, you will recall that centralizing your wealth in a carefully planned trust Forbes, in “How to Create a Family Trust to Empower Your Great-Great-Grandchildren,” reports that some Reference: Forbes (December 23, 2015) “How to Create A Family Trust to Empower Your Great-Great-Grandchildren

Solution: Create a trust to wind down the business. A Houston will lawyer can help you create a trust for your sole proprietorship so that upon your death , the trust gets the assets, and the administrator of the trust can wind down your business and have

Strategies include planning methods such as using a revocable living trust rather than a will. for an unhappy step-kid to break a living trust. In addition, it’s more effective to disinherit an estranged child using a living trust. The trust can eliminate the possibility for a lawsuit. An online will or trust won’t cut it with all of the issues involved with a blended family.

Instead of risking your desires being overlooked, it is prudent to relay your funeral wishes directly to trusted Property in Living Trusts Assets in a living trust are designated to bypass the probate process , making Mentioning these assets in your will can create confusion since they are already set to be managed by the trust To avoid legal ambiguities and potential disputes, keep trust-held assets separate from your will’s directives Whether you are seeking to develop and implement strategic asset protection, establish a special needs trust