Why a Trust Is the Best Option for Avoiding Probate

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As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in peace. In fact, the whole …

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Estate Planning Considerations for Couples with Age Gap

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With couples of similar ages, planning for the future is naturally a joint effort. However, if you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you. To protect yourself, your spouse, and other loved ones, you need to have comprehensive financial and estate plans. …

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Choosing the Right Beneficiary

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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 …

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Estate Planning Strategies to Protect Your Spouse

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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 …

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How Often Do You Update Your Estate Plan? More Often Than Your Resume?

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A resume is a “snapshot” of your experience, skill set, and education which provides prospective employers insight into who you are and how you will perform. Imagine not updating that resume for 5, 10, or even 15 years. Would it accurately reflect your professional abilities? Would it do what you want it to do? Likely not. Estate plans are similar …

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Things You Need to Know as Successor Trustee

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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 …

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5 Tragic Mistakes People Make When Leaving Assets to Their Pets

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A pet trust is an excellent way to make sure your beloved pet will receive proper care after you pass on. The problem, of course, is that you won’t actually be there to see that your wishes are carried out. It’s critical to set up a pet trust correctly to ensure there are no loopholes or unforeseen situations that could …

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Passing Along a Benefit, Not a Burden

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Most business owners have their estate planning prepared because they are worried about what will happen to their business after they are dead.  However, proper estate planning has the added benefit of allowing you to make plans for what will happen if you are incapacitated or needing to be away from your business for an extended period of time. As …

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What is an Inheritor’s Trust?

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When it comes to estate planning there are several types of tools you can use, depending on your circumstances. One such estate planning tool is the trust. There are numerous types of trusts aimed at fulfilling different estate planning purposes. If you are anticipating an inheritance, there is a special type of trust designed to help protect it: an inheritor’s …

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Rewarding Your Employees By Giving Them the Business

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Retiring from your business can a tough decision.  To ensure that what you have built continues on, there needs to be a plan for succession.  For some people, they have spent years grooming a child or other family member to take over, wanting the business to stay in the family.  Others look to sell to a third party for a …

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Do I Need a Will or Trust?

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Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid probate. Wills and trusts are not just for the wealthy: A well-drafted plan ensures that what you do have is not wasted in probate …

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 3 Examples of When an Irrevocable Trust Can – and Should – Be Modified

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 Did you know that irrevocable trusts can be modified? If you didn’t, you’re not alone. The name lends itself to that very belief. However, the truth is that changes in the law, family, trustees, and finances sometimes frustrate the trust maker’s original intent. Or, sometimes, an error in the trust document itself is identified. When this happens, it’s wise to …

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