We sometimes accomplish things in stages. First we crawl, then we walk, then we talk, and so on. Everything is done in the right season or time. Trust payouts are often handled in stages also. However, sometimes staged withdrawal rights are not the best way to handle trust disbursements. What Are Staged Withdrawal Rights? Some…
DetailsHow To Set Up A Trust? One of the most common and most versatile estate planning tools is the humble trust. Though many of us have heard of trusts, we may not know exactly what they are, what types of trusts are available, and how to set one up. Let’s consider the Jackson family. Kevin…
DetailsPaying For Long Term Care Sam and Emma planned to live out their days at their comfortable home in Chandler, Arizona. When Sam had a stroke, though, Emma had to drastically change her vision for their future. His doctor advised her that Sam would need 24/7 nursing care, at least for a time. Her biggest…
DetailsHow To Go About Transferring A Small Estate Estates come in all sizes. Procedures for settling an estate may differ depending on the size, however. If you are in charge of settling a friend or loved one’s small estate, take a few moments to consider alternatives to traditional probate. Why Use A Small Estate Affidavit?…
DetailsFamilies usually share a lot with each other. Sharing, though, can be more complex than sharing Grandma’s fruitcake recipe and the family’s cabin in the woods. Some families even share business assets. One business entity that’s used for family business assets is the family limited partnership. It’s also a powerful estate planning tool. It’s All…
DetailsWith A Personal Estate Plan You’ll Need More Than Just A Will Sometimes you need a complete set to make things work. How would your car move safely down the road with only three tires? Where would the Beatles have been without Ringo? The three basic estate planning documents are a simple Last Will and…
DetailsMike smiled as he watched his grandson, Jake, graduate from kindergarten. He dreamed of Jake’s future, especially his graduation from college. His smile faded as he visualized his grandson dealing with a mountain of school loan debt. Fortunately, Mike knew several ways to save for Jake’s college education, including funding a 529 account on his…
DetailsTips On Funding A Healthy Retirement Many of us rely on our jobs to provide income for the things we need. Though planning on funding your retirement begins early in life. As we start considering retirement, though, we have decisions to make. How will we replace the income we received from our jobs? Strategies may…
DetailsHow Do You Avoid Contesting A Will? Alex was patriarch of a large family. They had gone through some tough times. His sons and daughters were not close to each other and only one of them, Roslyn, took care of Alex. At age 93, he decided to revise his Will to disinherit all his children…
DetailsEstate planning is all about taking care of people – you and your beneficiaries. Some people face the future knowing they need to provide for a loved one with special needs. One way to do so is through a special needs trust. Who Is Eligible For Setting Up A Special Needs Trust? Obviously, the name…
Details
