The most commonly held misconception about estate planning is the idea that trusts are only useful for a small percentage of people that have very complicated estate planning objectives. There are definitely trusts that are used by individuals that are in unusual situations. This being stated, the revocable living trust is an estate planning device that can be extremely useful for "the rest of us." If you have always thought that you would be using a simple will, you may change your mind … [Read more...] about Five Reasons to Use a Living Trust
A Living Trust Can Protect a Spendthrift
There are many different tools in the estate planning toolkit, so you should be aware of all of your options so that you can make the right choices. A lot of people assume that there are certain risks that must be taken, but for the most part, this is not the case at all. This dynamic can enter the picture when it comes to leaving an inheritance to a loved one that is not very good at managing money. If you leave a lump sum inheritance, the individual could burn through it very quickly, and … [Read more...] about A Living Trust Can Protect a Spendthrift
Living Trusts Provide Multiple Benefits
People often assume that a last will is the right asset transfer vehicle if you are not a multimillionaire. In fact, this assertion is patently false. It is true that there are different types of trusts that are used by high net worth individuals that are concerned about the estate tax. This being stated, there are other trusts that can be used by people of relatively ordinary means. One of them that is the right choice for a wide range of individuals is the revocable living trust, and we … [Read more...] about Living Trusts Provide Multiple Benefits
