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Trusts Archives

Should I use an irrevocable life insurance trust?

When preparing your estate plan, it is always important to deal with your life insurance policy before it can become an unintended frustration for the ones you love. If you do not take proper precautions, your policy can add to your estate so that you cannot avoid probate, which can keep your beneficiaries from receiving your estate for quite some time after you pass away. Fortunately, the law provides just such a solution.

What is an AB trust?

There are many kinds of trusts, each with their own advantages and best uses. When creating an estate plan, trusts often arise as a tool for transferring assets without incurring unnecessary taxation. While many trusts offer some form of tax shelter, an AB trust features unique methods for keeping property in the family without creating an undue estate tax.

Blind trusts: Why are they used?

Over the last year, the term "blind trust" has become a common phrase used by many new outlets and talking heads. Often, it is discussed in the context of President Trump and his numerous business interests. So, what exactly is a blind trust, and how are they used?

What is a Charitable Remainder Annuity Trust?

Trusts are excellent financial tools and can be amazingly effective when they are used correctly. The variety of available trust options can be overwhelming, each with its own specific advantages and limitations. Charitable Remainder Trusts are an excellent way to make charitable giving a part of your overall financial plan and legacy.

Distributing money as age limits are hit

A trust can be a useful tool if you want to leave money to someone, but you don't want to do it all right away. Many times, this comes back to a perception of maturity. For example, you may choose to leave $600,000 to an heir, but your heir is currently just 15 years old, and you don't think he or she can handle that type of money.

Basic types of trusts

When completing your estate planning process, you may think all you need is a will. While a trust doesn't replace a will, it can be a good estate planning instrument. Most trusts only deal with specific assets, such as a piece of property or life insurance. A will details how everything else in your estate will be distributed.

What is a living trust?

A living trust is also commonly referred to as a revocable trust. It can be an estate planning tool that can help your loved ones avoid the hassles and costs of probate after you pass on.

What's the difference between revocable, irrevocable trusts?

Creating a comprehensive estate plan is one of the most helpful steps you can take when it comes to protect your assets and your wishes. With your estate plan, you can dictate how your property is distributed and where you money goes after you are gone, but you can also set up a trust to manage money in a particular way now.

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