Archive | Trusts

2017-11-08 savings jar with growth

Estate Planning for Traditional IRAs

Most people today have an IRA, and sometimes more than one. IRA’s and 401(k)’s and other qualified plan assets have become more popular, taking the place of more traditional pension plans. Whether an employer makes any contributions, or not, people are increasingly aware of their own need to put money aside for retirement into pre-tax […]

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2017-09-06 Corporate Estate Planning

Advantages of Choosing a Corporate Trustee

The benefits of doing a living trust and transferring your assets into the trust during life are many. A primary benefit is that your estate will circumvent the probate process when you pass, if you do things right, saving your loved ones many months of administrative burdens, delays, attorney’s fees and other costs. You also […]

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Trusts Compared to Corporations

The concept of a trust is difficult for many people to grasp because a trust is a concept, and therefore is intangible.  Another intangible concept that is more familiar, and therefore seems easier to understand, is a corporation. Corporations have some similarities to trusts and, therefore, provide a helpful comparison. A quick look at the […]

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Estate Planning Trend (or the Lack Thereof)

The sign is a clue to what a recent article in the Trusts & Estate section of identifies as a trend away from estate planning and, therefore, toward more probating of estates. (The Shift from Estate Planning to Estate Probating)  In other words, the author believes the national trend indicates a penchant for putting off doing estate planning. The […]

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Estate Planning for Second Marriages

When people are in love, they are not usually preoccupied with death; they are focused on living. Second marriage situations, however, present issues that should be discussed and addressed, especially when there are children from a first marriage. Whether the second marriage follows a divorce or the death of a spouse, careful consideration of estate […]

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Five Basic Guidelines for Choosing a Trustee

Other aspects of estate planning are more complex, but choosing a trustee is one of the more difficult decisions to make. People are encouraged to choose several trustees in order of succession, but sometimes choosing any trustees can be difficult in light of family relationships and other factors. Choosing a trustee is a very personal […]

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The Difference Between Executors & Trustees

People often confuse executors and trustees. Both roles are fundamental to estate planning, but the roles are distinctly different. Understanding the difference between is essential to estate planning.  Simply put, executors are to Wills what trustees are to Trusts. An accurate picture of the difference, however, requires more detail. Most everyone knows that a Will […]

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