Disinheriting a loved one can be a tough choice. It should be considered an extreme step to be used in rare occasions. Unfortunately, it is necessary at times.
Trusts are a legal arrangement where property is held for the benefit of others. Irrevocable trusts are a permanent trust that has some benefits over revocable living trusts.
Some California residents own homes in other states. It could be just over the border in Arizona or Nevada. Or it could be in a much more distant location. When owning homes in two states, it is important to take estate planning into consideration.
Many people think that estate planning is only for people with large estates. In trust, planning can provide protection for everyone regardless of their estate.
Trusts are a common and powerful estate planning tool. It is important for everyone involved to remember that a trust is a legally enforceable document.
It is common for people to get their estate in order at the end of their life. Without an estate plan, heirs may need to pay avoidable taxes, spend time in probate, or even lose their inheritance altogether.
Many people understand that a will is important to pass on property to your heirs. However, most people do not understand that a will is a publicly available document.
Many people think the only use of trusts is to avoid estate tax. But trusts have many other uses, even for those without a large estate.
These days, couples can be emotionally and financially dependent upon each other well before marriage. The longer the relationship lasts, the more likely they are to be financially intertwined. This means estate planning may be necessary to completely reflect the relationship.
The end of the year is the perfect time to look back at all the changes and make a few moves to protect your family and your assets in 2017.