Serving as executor or trustee of a will or a trust is an honor... but it’s also a job—a BIG job—and not one to be taken lightly. The role of executor or trustee can be one of great financial power, but it carries with it a heavy fiduciary obligation. Fiduciary...
The hardest part of legacy planning or estate planning isn’t necessarily choosing the right fiduciaries, or deciding how to distribute your wealth fairly among your loved ones... the hardest part of legacy planning or estate planning is often simply talking about it...
Most people think that having a trust is about controlling (to an extent) what happens to your assets after you die. This is true, but a trust actually has a much broader scope: a trust can also protect and provide for your loved ones—and more importantly, it can...
Coping with the death of a loved one can be a crushing task. There are so many things to do and details to remember; all of this at a time when each small task can serve as a reminder of your loss. At such a time it can be helpful to know that you’re not going through...
When people think about estate planning they generally think about inheritance, or taxes, or even guardianship—but rarely are the words “executor” or “agent” the first ones that come to mind. And yet, choosing your executor or your agent is one of the most important...
My husband and I are considering adding our son (he is married) as joint owner to our banking accounts in the event we should become ill or die. Would him being on our accounts be considered his and his wife's personal property? If they would divorce would she be...
All we have is a house and a few cars, part ownership in another house. I would go one step further. The foundation of estate planning is control. Life happens. When one spouse dies it is natural for the survivor to remarry. In remarriage loyalties change. It is not...
Would I need a living trust or what forms would I need? A sensible way to transfer assets to children, in the event of your death, is through a revocable living trust. Transferring assets to children through a last will generally gives the children assets at age 18,...
Everything was divided equally among the children according to their will. There is a hierarchy to paying taxes when someone dies. The general rule is that the Trust must pay any tax liabilities. If the Trust does not pay the taxes and there are assets with which to...
I need advice about choosing a trustee and custodian for my daughter. I want to make sure after I die my daughter will be taken care of and get money that I saved for her. I can’t decide whether to have my brother in Thailand or my friend in the USA be a trustee. What...
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