Category: Trusts
Prince passed away without an estate plan and now musicians rethink the future. Following the death of Prince, Billboard has published an article “Avoiding The Prince Syndrome: A Primer On Estate Planning,” which includes some guidelines for musicians looking to protect their heirs with an estate plan. Among the tips are: Hire a good estate […]
Sometimes it is necessary to name a trust protector as well as a trustee. Because it is not always possible to name the right person to be a trustee over an estate, it is sometimes necessary to designate a trust protector, according the Yuma Sun in “Estate Planning: Who oversees a trust administration?”. Basically, a […]
No estate plan or a bad estate plan will most likely result in tough times for your heirs. While not all estate plans are equal, they can generally be easy to implement as Kiplinger wrote about recently in “4 Strategies to Avoid an Estate-Planning Mishap.” They include: Get a basic will that details who you […]
Two of the keys to estate planning are wills and trust, but what does one actually need? Wills and trusts are two of the key strategies for passing on assets in estate planning—with a trust generally being the most complicated. The Brainerd Dispatch recently discussed whether a trust is necessary in “Commentary: When does it […]
If you are considering an estate plan but don’t know where to begin the first step is looking at the basics. While an estate plan can get complex depending on the circumstances it might be best to take a look at the basics as Yahoo Finance recently discussed in “Understanding the basics of estate planning.” […]
A lifetime discretionary trust may be a good option to consider rather than handing over a lump sum. A lifetime discretionary trust may be an option to consider if leaving an inheritance without restrictions is not a good idea because in these trusts, the trustee does not have to distribute assets in any specific way […]
An estate planning attorney could be helpful before signing a divorce decree. Divorce agreements often include child support and life insurance requirements but as the National Law Review points out in “How Divorce Can Impact Your Estate Plan,” these life insurance provisions in divorce agreements are often flawed from an estate planning perspective. Divorce attorneys […]
Some simple planning can help avoid the surging of emotions as families deal with an estate. Rising emotions can often cause problems when administrating an estate plan but some practical advice is offered by St. Louis Public Radio in “Four things to know about estate planning that could help you avoid fights with your family.” […]
U.S. residents are allowed to have a trust created in any state they choose. You can have a trust created in any state because you are not limited to the state in which you reside. Which state is the best for your trust depends on opinion as Trust Advisor reveals in “The Nevada Advantage: Why […]
People who have pets often make informal plans to protect their pets after the owner dies but informal plans are not official plans. Pet owners often make informal plans with siblings or best friends about the fate of their pets after the owner passes away but these arrangements have no legal standing because, while some […]
