Our Estate Planning Blog
Choosing the right storage location for your will ensures that it remains secure, accessible, and legally valid when needed.
Trust disputes among beneficiaries can strain family relationships and jeopardize the integrity of an estate plan. Strategic conflict resolution can protect both the trust’s assets and familial bonds.
Digital assets are now a major cause of problems in settling and distributing estates. You must carefully consider and incorporate your digital life into the estate plan.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Understanding the difference between these two types of trust can be the key to choosing an estate plan that works for you and your family.
Increased interest in estate planning is welcome, but make sure that you have all of the tools in place to protect your family. Making a will might not be enough.
Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
