Trusts are legal tools that allow the creator to distribute wealth in a manner that generally allows for more control compared to the use of a will. Trusts can help create an estate plan that better ensures the creator's wishes are met.
How do I know if it's time to review my estate plan?
Too many people make the mistake of thinking that estate planning is a one-time task. However, in reality, creating an estate plan is only part of the process. You must also review your plans periodically to be sure that they continue to protect your wishes and assets.
Pet trusts can help pet owners have peace of mind
No two estates will ever be the same, as there are bound to be major differences between the lives -- and accrued wealth -- of the grantors. But many people own pets, so when it comes to establishing trusts for an estate, an animal companion trust or pet trust can be hugely beneficial for many different people.
Do I need a pour-over will?
Creating a revocable living trust can be a very wise decision for people who want to achieve certain goals with their estate plans. For instance, if you want to avoid probate and prioritize your privacy, and if you want to continue to manage and control the assets in the trust yourself, then creating a revocable living trust can be prudent.
When might you need to challenge the administration of an estate?
After someone passes away, his or her estate must be settled. This requires distributing personal belongings, contacting heirs, filing paperwork and ensuring his or her wishes are respected, which are all tasks overseen or handled by the estate administrator.
3 essential elements to include in shareholders’ agreements
Starting a business is as much about planning for success as it is about responding to challenges. This is why savvy business owners are serious about taking steps to ensure they are well-positioned to deal with triumphs and failures, and this can include having effective start-up documents in place.
