Wills And Trusts

There are many ways to use a trust as part of an estate plan. This gives the grantor a chance to set certain goals for the beneficiary. The trustee is then in charge of deciding if these goals have been met and making the appropriate distribution. Anyone can create an...

Trusts are more than just tools for wealthy individuals. When used the right way, they can offer a range of tax advantages that benefit families at many income levels.  Trusts can also ensure your assets are managed and distributed according to your wishes. Here are...

When you’re making an estate plan, you can sometimes leave assets to people directly. If you have $100,000, you can just name one of your adult children as the beneficiary. The estate executor will transfer the money to them while distributing the rest of the assets...

Despite the intense grief that accompanies an individual’s passing, the people closest to them often need to address practical issues. They need to secure property, communicate with creditors and prepare for probate proceedings. What happens during estate...

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...