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Also, a will or a trust will let you name someone to watch over assets for a disabled or elderly family #AssetProtection #Guardianship #EstatePlanningLawyer #EstateTax #Medicaid #Inheritance #Wills #Trusts

However, in other states, a living trust might be a better strategy if the probate process is more expensive Trusts are not subject to the probate process, unlike a will.

Annuities and Trusts as Long-Term Care Funding Sources Annuities and trusts can be effective tools for Asset Protection Trusts Asset protection trusts can be used in estate planning to cover long term care These trusts can protect your assets from being depleted by long term care expenses. However, setting up a trust requires legal expertise. This includes setting up powers of attorney, living wills, and potentially trusts.

away, a situation is created where an out of state or ancillary probate proceeding must take place to administer lawyers use to get around an out of state probate include placing the property into a revocable living trust

for your trust. Trusts Remain the Same A revocable living trust that was validly prepared in one state is typically honored Still, you will want to review your trust and ensure it is up to date once you have moved. house in your new city, for instance, you will want to make arrangements to fund that asset in your trust A meeting with a trusted estate planning attorney at Your Legacy Legal Care can clarify your options.

to execute alternatives to guardianship like medical power of attorneys, durable power of attorneys, trust If they can establish a durable power of attorney or provide secure access to their assets to trusted

Depending on your estate, you may want to consider a trust, in addition to healthcare directives, powers A trust can be complicated, so talk with an estate planning attorney to see if it makes sense and whether you’ll actually benefit from using a trust. joint tenancy, those assets are already exempt from probate, so they won’t necessarily benefit from a trust Guardianship #EstatePlanningLawyer #PersonalRepresentative #Executor #PowerofAttorney #Wills #TaxPlanning #Trusts

Revocable Trust A revocable trust can be especially important for unmarried couples. By using a trust and skipping probate, your assets also remain private.

her conservator and that she has asked the probate court to appoint a corporate conservator (Bessemer Trust Establishing a medical power of attorney will ensure that a person you trust will be able to oversee it is crucial to establish an estate plan with documents that will allow you to appoint someone you trust

If you have a trust to avoid probate and distribute assets, the process might be easier for all parties To avoid probate, you may want to place your assets in an individual revocable trust for your children

Consider Dividing Assets into Trusts for Dependents If you have dependents, talk to your attorney about dividing your assets into trusts for your children. If you have questions about dividing assets or trusts please feel free to give the experts at Your Legacy

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