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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. Additionally, trusts can help protect the privacy of the individuals involved. trust are not accessible by the public.

But you also need to protect your assets while merging life goals. A prenuptial agreement is now a standard document for those who want to protect their wealth.

Included in these options are long-term care insurance, nursing home Medicaid planning, asset protection If you are unable to afford it, our attorneys will work with you to develop an asset protection plan

, 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

Asset protection. An umbrella liability insurance policy is a great asset-protection tool. It provides personal liability protection over and above the limits of your automobile insurance or homeowners

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.

change in tax law is almost guaranteed, which may mean you need to update your estate plan to help protect one can predict the future, experienced estate planning attorneys can make recommendations that best protect Care has seen many changes in tax law over the years, and have options that are available to help you protect Get a head start on protecting your loved ones and your hard-earned savings today by scheduling a strategy

Some folks’ estate planning consists of a simple will, but for others, it may include a will, trusts, first step in estate planning” #Guardianship #EstatePlanningLawyer #LivingWill #PowerofAttorney #Wills #Trusts

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

Without a prenuptial or postnuptial agreement in place, the state’s elective share statute law typically protects

But when you put them together, along with your 401(k)s and IRAs, then you have a more stable and diversified If you’re 70½ or older, take your required minimum distributions (RMD) from your IRAs and 401(k)s.

A generation skipping trust is just what it sounds like; it is a financial vehicle that “skips” your Any nonexempt portion of your transfer to a generation skipping trust will only be taxed once before Generation skipping trusts also protect familial wealth and assets intended for long-term appreciation The trust can be structured so income generated by the trust’s assets – for example, dividends or interest knowledgeable estate planning attorney can advise you on the full range of legal options that can help you protect