Why Would I Consider a Trust For My Estate Planning?

Everyone needs an estate plan, it doesn’t matter what your socio-economic circumstances are. A simple estate plan will typically contain at least three documents. This will generally include a durable medical power of attorney and a durable financial power of attorney. The other document typically found is a way to pass your property upon death such as a will. However, there are times when a trust might be an option in your estate planning instead

Why Would I Consider a Trust for my Estate Planning?

There are times when a trust might be an option in your estate planning instead of or in addition to a will. So why should you consider a trust? Trusts are useful estate planning tools that can accomplish a variety of goals. They can help avoid probate, minimize taxes, and be used to give property to minor or disabled loved ones. Trusts can be created during a person’s lifetime (Living Trusts) or at the person’s

Estate Planning: Not Just for Boomers!

A well-executed estate plan is critical for everyone. A will or trust, and powers of attorney are the best way to ensure your wishes are honored after your death, and during any period of incapacity. In past columns we have discussed the importance of estate planning for seniors.  Here, we’ll look at these issues for the younger generation. Planning for these events seems natural as we age and families grow. It is especially important for

Don’t Believe You Need an Estate Plan?

Estate planning can mean many things to many people. For some, it may simply mean the creation of wills or trusts.  For others, it may involve the creation of a special needs trust to provide a safety net for a child with developmental disabilities. And many people are concerned over the prospect of paying for long-term care and the fear they could lose their home and their life savings. An estate plan can address all

A Will or Trust: Which is Best for You

A Will or Trust: Which is Best for You? When it comes to deciding whether a will or trust is best for you, it is important to understand your options and which one is most appropriate for your situation. Will A testamentary will (simply referred to as a “will”) is a legal document used to transfer an estate to beneficiaries after the death of the “testator” (the person making the will). Within the will, the