Financial trusts are an easy way to pass things along to your children and other relatives while avoiding estate taxes and other rules and regulations. There are a variety of different types of trusts; there are living trusts that can be used in conjunction with a will, and then there are also trusts that allow you to pass money onto specific beneficiaries. Anyone can use a trust, however, there is a common misconception that they are only for the...
A living trust is an extremely useful estate planning tool that can help you ensure that your assets will be distributed according to your wishes when you pass on. There are many differences between a living trust and a will, but the biggest is that a living trust can avoid probate proceedings, therefore delivering the assets to your family quickly and easily. It is important that your family, particularly those that are intended beneficiaries, are aware of the living...
Trusts are a great way to leave money to your children that can help them lead a safe and comfortable adult life. Additionally, many parents find this to be the easiest way to manage their estate, because trusts allow you to legally avoid probate and other estate regulations. If you’ve created a trust for your child when they were very young, they will be able to access it once they’ve reached a certain age, depending on the conditions of...
So, you’ve just received a substantial chunk of cash from an inheritance. Maybe a family member included you in a will, or maybe your parents set up a trust fund for you that you now have access to. Inheriting money can help you live a happier, more stable life, but it’s very important that you manage it correctly so that you can get the most out of it. Here are some tips for how to manage inherited money. Decide what...
Trusts are a very common estate planning tool that help people directly transfer funds to individuals or organizations as they wish. In many cases, they are used to give money to family members while legally avoiding probate, estate taxes, or other regulations. However, they can also be used for a variety of other purposes. Although trusts are fairly easy to set up with some guidance from a trained lawyer, there are plenty of common mistakes and pitfalls that are...
