Simply put, a revocable trust is used to ensure that your assets are properly distributed at the time of your death. While there are other options to consider, such as a will, there are reasons why more people than ever are creating a revocable trust. As the name suggests, a revocable trust can be altered or canceled at any time. As the person creating the trust, you have the opportunity to make as many changes as you want in the future. This is one of the key advantages as compared to … [Read more...] about Reasons to Create a Revocable Trust
Living Trusts
Making the Most of Your Revocable Living Trust
Trusts can be one of the best ways to distribute your assets after death, as millions of Americans have discovered over the last several decades. Sure, the Last Will and Testament remains a popular choice for those with relatively simple estates, but even many of those individuals could benefit from the advantages that only a trust can provide. As for those with more complex estates, the trust is something that the almost cannot do without. Of course, it’s not enough to just create a trust to … [Read more...] about Making the Most of Your Revocable Living Trust
What is a Revocable Trust and How Can It Benefit Your Estate Plan?
When it comes to estate planning, there seems to be three groups of people. The first group includes all those people who have no estate plan in place. Unfortunately, they represent a majority of American adults right now. The second group includes those whose estate plan is focused on a simple will and perhaps a power of attorney or advance directive for health care. The third group – and by far the smallest – consists of those Americans who have an estate plan that includes some type of living … [Read more...] about What is a Revocable Trust and How Can It Benefit Your Estate Plan?
Three Unbeatable Advantages of Revocable Trusts
So, you’re finally ready to get serious about your estate planning, and one of your close friends suggests that you look into getting a living trust. The problem is that you haven’t really heard all that much about what a trust can accomplish for someone in your situation, so the idea seems a little odd. After all, aren’t trusts just for wealthy people? How could you possibly benefit from some complex legal arrangement? As it turns out, trusts have come a long way since those days when they were … [Read more...] about Three Unbeatable Advantages of Revocable Trusts
Make the Most of Your Estate Planning with an Indianapolis Trust Attorney
Do you have an estate plan already in place, or are you one of the roughly fifty-five percent of American adults who have never even gotten around to creating a basic Last Will and Testament? For many of us, that’s an uncomfortable question to consider, since conversations about things like wills, trust, estates, and inheritances just remind us of our own mortality. The fact is, though, that these are issues that we all eventually need to address – because if there is any one thing in life that … [Read more...] about Make the Most of Your Estate Planning with an Indianapolis Trust Attorney
How Living Trust Benefits Can Strengthen Your Estate Planning Strategy
It’s really not surprising to see just how many families believe that living trusts have no place in their estate planning strategies. Trusts were originally reserved primarily for the wealthiest of individuals and their families, and that old dynamic has had a lasting impact on the way many of today’s families continue to view them. Unfortunately, that misconception is preventing many people from receiving the living trust benefits they might otherwise enjoy – and making it even more difficult … [Read more...] about How Living Trust Benefits Can Strengthen Your Estate Planning Strategy
Living Trust Benefits May Surprise You
There are many different tools in the estate planning toolkit. People who have not looked into the subject extensively often assume that they should use a last will as an asset transfer vehicle, but there are inherent drawbacks and limitations when you use a last will. For many, a revocable living trust would be a better choice, and you may be rather surprised when you learn about the living trust benefits that you can take advantage of if you go this route. Debunking the Myths There is … [Read more...] about Living Trust Benefits May Surprise You
Who Gets My Property If I Don't Have a Will or Living Trust?
There are people out there who apparently assume that your property will magically fall into the hands of your loved ones in precise accordance with your wishes if you don't have a will or a living trust. Why would we make this assertion? When you look at surveys that are conducted, the majority of American adults don't have estate plans in place. Since just about everyone would say that they put their family members first, these folks must be under the impression that the state can somehow … [Read more...] about Who Gets My Property If I Don't Have a Will or Living Trust?
Revocable Living Trust Checklist
One of the most important things to understand about estate planning is the fact that you have options. Even if you are not extremely wealthy, a last will may not be the best choice for you. There are different types of trusts that can provide various respective benefits. A trust that can be ideal for a wide range of people is the revocable living trust. You can take a look at this checklist to find out some of the steps that you would take if you decide to utilize a living trust. 1.) … [Read more...] about Revocable Living Trust Checklist
Do You Need a Power of Attorney If You Have a Living Trust?
A living trust is a versatile estate planning device that many people decide to utilize when they understand the hassles and limitations that go along with the creation of a last will. What are these drawbacks? For one, a will must be admitted to probate. This is a legal process, and the heirs to the estate do not receive their inheritances while the estate is being probated by the court. Depending on the circumstances, this can be a long wait. Some cases take longer, but a best case … [Read more...] about Do You Need a Power of Attorney If You Have a Living Trust?
