Wills And Trusts

People who are setting up an estate plan have to determine how to get their beneficiaries the assets they want them to have. Some people use wills, but these have to go through the probate process and can be challenged.  Another option is to use a trust to pass the...

Some people create trusts because they want to prevent their loved ones from fighting. Others hope to streamline their eligibility for benefits as they age or to protect their estates from taxes. In some cases, concerns about a beneficiary are what inspire the...

An Employer Identification Number (EIN) is a unique tax identification number issued by the Internal Revenue Service (IRS) for business entities, estates and trusts. Whether a trust needs an EIN depends on its structure and how it is taxed.  While some trusts require...

A Totten trust, often called a "poor man's trust," provides a simple and cost-effective way to transfer bank accounts or certificates of deposit to beneficiaries upon death.  Unlike traditional trusts that require complex documentation, this informal trust arrangement...

Estate planning secures your assets and ensures your wishes come true after your passing. Many people delay creating a will or trust, often underestimating the potential complications this can bring. By understanding what a will and trust entail and the risks of...

Some people can accomplish their estate planning goals with nothing more than a will. For others, trusts can be an important part of the estate planning process. Establishing and funding a trust can help protect certain assets and control what happens to that property...

Adults thinking about preserving their assets and qualifying for benefits as they age may decide to start a trust. There are many kinds of trusts that people can establish depending on their needs and resources. Funding a revocable living trust is a common estate...

A lot of thought goes into an estate plan, so it’s critical that you carefully consider all the options you have to get your assets to your loved ones when you pass away. For some people, hearing about trusts is mystifying because they believe all trusts are only for...

A will provides instructions on how your assets are passed on to beneficiaries. You can name individuals or entities as beneficiaries. What matters is that your final wishes are honored in your estate plan. Here are three of the most common types of beneficiaries....

A will has many uses, including establishing guardians for children after a parent dies and naming beneficiaries to an estate. Wills are often the only document people draft when they begin estate planning. After all, a will can accomplish many of people's primary...