If you have a revocable living trust, you probably named yourself as the initial trustee so you can continue to manage your financial affairs. Eventually someone else will need to step in when you are no longer able to act due to incapacity or after your death, however. Your successor trustee plays an important role in the effective implementation of …
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order. Key Takeaways You can …
Estate planning is not just about what happens when you die. Proper estate planning takes into consideration all aspects of your life and how to protect your accounts and property so that you can receive the maximum use and enjoyment during your life as well as protect whatever you choose to leave to your loved ones upon your death. A …
When you create a living trust, you must name a successor trustee to take over for you if you are unable to act due to incapacity or death. It is crucial that this decision be given careful consideration and that the right person be selected for the job. Role of Successor Trustee If you become unable to manage your financial …
While estate planning allows you the freedom to choose who will receive your money and property upon your passing, struggling to determine who should receive your accounts and property at your death may prevent you from starting the process. You should not let this stop you from creating an estate plan, however. Whether it is naming a person or organization …
You have searched for and found the love of your life, maybe your first love, or maybe after a previous marriage. As you have built your life together, you have probably weathered your fair share of storms and grown stronger because of them. To prepare for the future and the possibility of no longer being around for your spouse, it …
Being named as a successor trustee in someone’s revocable living trust document can be considered a great honor. But with that honor comes responsibility. Whether you were appointed to this role due to someone’s death or incapacity, we are here to assist you with understanding your role in the trust administration process and to offer you support each step of …
If you have ever considered starting an e-commerce business, now is a great time to move from ideation to action. Online retail sales exploded to an all-time high amid COVID-19 lockdowns, travel bans, and brick-and-mortar closures, and this was not just a temporary bump. E-commerce was already experiencing strong year-over-year growth prior to 2020. The accelerated shift to online purchases …
Your noble calling is to help others grow in their faith and assist them in navigating the difficult circumstances that life may throw their way. It is important that you also take care of your affairs, however. A financial and estate planning team can help you create a plan that will protect you today and tomorrow so you can better …
A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do, when. While there are many types of trusts, the major distinction between trusts is whether they are …
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. This individual ideally should be someone you trust implicitly; someone who is organized, responsible, transparent, and meticulous; and someone who can …
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful marriage and business takes a lot of hard work and dedication but can also be among the most rewarding things in life. To help keep you on the right track, here are a few tips. Create …