Executing your will and/or trust are the first steps to your estate planning. This article focuses on a few loose threads that you need to be aware of after you have your basic planning in place.
This is a straightforward, question and answer style article designed to provide a basic understanding of the key advantages to using a trust as part of your estate planning.
We all have a tendency to put off thinking about our own demise. It usually takes some kind of prompt to get us to take the time – and pay the money – to have a will drafted. That prompt may come in the form of the birth of child or development of health issues. Those are common reasons people start thinking about their last will and testament, but are they the only reasons?
The will-trust combo is a standard technique in estate planning because it is an effective, convenient and cost-efficient means to your goals.
Once you have read Part II of this series, regarding the many advantages of having a trust, you are ready to learn how to actually transfer assets to your trust.
I have always been fond of trusts generally and, when it comes to real estate investment, a land trust can be an ideal solution in many situations. The only real drawback is that a lot of people are unfamiliar with trusts and it takes a good deal of explaining to get them to the necessary comfort level. The purpose of READ FULL POST