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(April 28, 2016) “How to Prepare a ‘Life After Me’ Document” #estateplanning #PlanningfortheFuture #Trusts

One caveat is life insurance trusts. If the trust terminates at the person’s death and the trust distributes assets to the heirs, your tax basis in those assets will be that of the trust. But if the trust continues beyond the death of the person who created it, then some complex trust tax AssetProtection #EstatePlanningLawyer #EstateTax #HoustonGuardianship #ProbateAttorney #IrrevocableTrust #TrustsandEstates

most important financial issues, decisions and plans to discuss with your parents: Consider a living trust In addition to a will, your family may also benefit from creating a living trust to designate which beneficiaries The difference between a trust and a will is that assets included in a properly-executed living trust A living trust may be a bit more expensive to create than a will, but it will let your parents do wise

Also, a will or a trust will let you name someone to watch over assets for a disabled or elderly family Without a will, a pet can wind up in a shelter after you die if no one takes responsibility for it. #AssetProtection #Guardianship #EstatePlanningLawyer #EstateTax #Medicaid #Inheritance #Wills #Trusts

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.

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.

We layer your asset protection so instead of you personally owning that LLC, maybe an irrevocable trust In order to get to you, they have to get through the trust. We use a lot of trust planning to assign the LLC to a trust, so the trust owns the membership interest

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

, 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