Category: Trusts
Today, a 65-year-old man has a life expectancy of 84 while a 65-year-old woman has a life expectancy of nearly 87, according to the Social Security Administration. That increased longevity has changed all kinds of financial planning, such as retirement calculations and long-term care insurance costs. But its impact on trusts and estates is only […]
How do you protect yourself? Be on guard and on the lookout. Don’t be a victim. Here are just a few warning signs and common tactics used by trust and annuity peddlers. Not everyone understands estate planning clearly, and unfortunately there are some bad apples out there that will try to take advantage of this […]
The children of late billionaire Richard Mellon Scaife are accusing their father of misspending a family trust fund–one worth $210 million–to keep his newspaper printing. The executor of their father’s state vowed to fight the children in court and called their allegations “outrageous, frivolous and contrary to the terms of the trust.” Trusts can be […]
Of course, in most families, the split is an equal one, giving adult siblings no reason to quibble over the disposition of cash and other assets. Yet some parents decide to single out one or more children for a bigger, smaller or differently structured inheritance. Even if the reasoning is valid — perhaps one child […]
Over the years, we’ve seen estate plans fail to do what they were intended to do. For your estate plan to remain a valuable asset for you and your heirs, you would be wise to avoid these eight common mistakes. Decide to get my estate in order, check. Get my estate plan prepared, check. Am […]
Are you childfree? Are you planning with an elder parent? Do any of your potential beneficiaries have special needs that must be taken into consideration? Are any of your beneficiaries minors? The first step of planning is to take a moment to consider what makes your situation unique. Although estate planning has many aspects, it’s good to start with the […]
Most people want to avoid probate, and therefore, want to avoid the use of a will. The following are some key questions to address to determine if a trust is right for you. Is a trust right for you? Trusts have become so popular that many estate planning attorneys have gotten used to new clients […]
Choosing a trustee is hard — but getting rid of one is harder. Beneficiaries who choose to switch trustees can find the process costly, drawn out, and unpleasant. But it may be getting a bit easier. Can you swap your trustee for a new one? Many good reasons exist for why a trust beneficiary might […]
Bacall’s loss of her husband when her children were young does point to some of the issues surviving spouses face when there is a difference of age of 20 years or more. Of course, May-December marriages don’t only happen in Hollywood, and the resources and circumstances can be very different. In recent article titled “Bogie […]
Inheriting in trust can mean a lot of different things, but usually comes with benefits that are not available otherwise. Consider establishing an estate plan so your beneficiaries can inherit in trust. You may know you want to give an inheritance to your heirs, but do you know the right way to do it? Let’s […]
