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Trusts Archives

Think carefully before you make decisions about trusts

In our previous blog post, we discussed some of the basics of creating a trust that can provide for your family after you are gone. If you want this to be a part of your estate plan, you need to think carefully to ensure that you choose the right types of trusts that can meet your final objective.

Understand the basics of trust funds

A trust fund is something that gives you control over what happens to your assets after you die. These funds, which are legal entities, enable you to set conditions on who will get what when. There are various types of trusts, so be sure that you work with someone who can help you learn which trusts are right for your needs.

Think carefully about how trusts might help your estate plan

You might think that you have your estate plan all handled -- after all, you did write out a will that tells your loved ones where things should go. What you might not realize is that a will isn't always going to ensure that your wishes are followed. In some cases, a will might be contested or your wishes might not be as clearly conveyed as you intended.

Think carefully if you are considering a living trust

A living trust is a useful tool when you are creating an estate plan. It is imperative to know that these trusts aren't appropriate for everyone in every situation. If you are considering a living trust, you should think carefully about it because there are some instances in which this option might not be worth the time or effort.

Choosing the right trust can help you avoid taxation

There are many kinds of trusts that you could opt for to create for your beneficiaries. Each type has its own benefits to consider. For example, a credit-shelter trust helps you give your estate to your spouse tax-free while also stating who you want to receive the trust. When your spouse passes away, you can even determine who will receive the remaining principal tax-free.

Understanding blind trusts

A blind trust is a certain type of legal vehicle that is used when the person who owns the assets shouldn't be able to know how the assets or being managed or have a hand in the management of the assets. Blind trusts are not something you'd use in common financial and estate management situations, but they can be a valuable tool when ethical or legal restrictions make it difficult to maintain ties with your own wealth or businesses.

Solid goals help you achieve more with trusts

It's the beginning of a new year, which means everyone is rushing to the gym or the health food store to try to get a head start on goals. In many cases, those goals will be abandoned by this time in February, but you can set some long-term financial and estate planning goals that are easier to keep -- especially if you cement them now with the help of an estate law professional.

Funding a trust with life insurance: How much is enough?

If you want the benefits of a trust for your heirs and yourself but you feel like you don't have enough assets to warrant creating such a legal arrangement, then you might want to consider the merits of life insurance. Did you know that you can fund a trust with a life insurance policy?

You have to fund a living trust

In the past, we've talked a lot about the benefits of trusts, which, when properly managed, can help you administrate your property both now and after you are gone. The benefits of a trust don't start accumulating until you move property into the trust, though, so simply working with a lawyer to create a legal trust document isn't enough. You should always talk about how and when you will move assets into your trust when you work with a professional to create it.

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