Insight on business, estate planning, finance, life insurance and tax-free retirement.
Monday January 10, 2011
"Put not your trust in money, but put your money in trust." Oliver Wendell Holmes
The Revocable Living Trust has been in existence in the United States for well over 200 years (Patrick Henry is said to have drafted the first). Until recent years they have been reserved for the wealthy: the Rockefellers, the Kennedys, the Astors. Even former President George W. Bush has been quoted saying his assets are in a trust. As a method of estate planning, the living trust is...
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Monday December 20, 2010
Most married couples never come in contact with the probate until a parent, sibling, or spouse dies which has to be the worst time to get an education on the probate process. We have seen brothers and/or sisters become absolute bitter enemies because of the failure to update wills.
Today, more and more people are becoming aware of the costly time delays of the estate settlement process, mainly the most important part, "Probate." What is...
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Wednesday November 17, 2010
Often I am asked about the differences between Trust in regards to estate planning. Below I have covered the four most common types of trust.
This trust is for married couples with estates of such size that estate tax avoidance is not the primary goal and the need for more than one credit is not necessary. In the Marital Trust, you do not reap some of the benefits of the A/B/C Trust. This type of trust is appropriate for smaller estates because there are...