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To better understand revocable living trusts, you first have to understand what a trust is. When most people hear of legal trusts, they think of tools that wealthy people used to pass inheritances on to their children or grandchildren. While this idea is somewhat accurate, it also leaves much out of the picture. A good… Read more »
The process of estate planning is often thought of as something that is only important for people who have reached an advanced age. We all know that senior citizens are more likely to pass away than their younger counterparts, but in truth, all responsible adults should have an estate plan in place. There have been… Read more »
A supplemental needs trust can be useful if you want to provide for someone that you love who has a disability. We will look at the facts in this blog post. SSI People with disabilities oftentimes rely on the Supplemental Security Income program. This program provides income for people with special needs who are not… Read more »
When you are planning your estate, passing along resources directly with no strings attached can be perfectly acceptable for some established people on your inheritance list. At the same time, there could be people in the family who could use some guidance. Under these circumstances, you could consider the creation of an incentive trust. With… Read more »
The Medicaid program will pay for long-term care. You may hear this statement and shrug your shoulders, because you will never qualify for Medicaid, and you will qualify for Medicare by the time you require living assistance. This reaction makes sense on the surface, but when you dig into the facts, you will see a… Read more »
A living trust as an estate planning vehicle that provides a number of different benefits, but this type of trust would not be the ideal choice under certain circumstances. We will look at the details in this blog post. The Benefits In a general sense, a living trust can be a good choice for you… Read more »
There are many high net worth individuals in the greater Dallas area, and when you have been financially successful throughout your life, you have to be aware of potential estate tax exposure. The federal estate tax carries a whopping 40 percent maximum rate, so your wealth can be significantly eroded if you take no steps… Read more »
Many people in the Dallas area who create an estate plan use a revocable living trust as a key part. Through a revocable living trust you gain numerous benefits and options. For example, revocable trusts allow you to largely avoid the necessity of your estate having to pass through the probate process, as well as… Read more »
A properly created and funded revocable living trust is one of the best estate planning tools available today. Though not everyone needs a living trust, these tools are excellent for anyone who wants to ensure they keep their affairs private, avoid probate, and limit how much their estate will have to pay to wrap everything… Read more »
Regardless of the kind of trusts you choose to incorporate into your estate plan, you should plan on creating a trust inventory. Every trust you create will involve taking some of your property and transferring it into the trust’s name. This process, called funding, can be simple or complicated depending on the type of property… Read more »
