Sorting through the myths and realities of estate taxes can be handled through common-sense explanations of the latest laws and regulations.
Establishing a “Trust” can be as simple as a paragraph or two…
Trusts can range from a series of simple paragraphs tucked inside a Will, which structure how a future gift is made; to a long and complex stand-alone document which directs the future management of assets and reduces tax burdens. Often clients believe trusts are necessary to “avoid Probate,” and that a trust can protect their property from creditors during difficult times. Neither may be true. As with Wills, clients have conflicting information about trusts and their role in a thoughtfully executed estate plan. Even clients who already have trusts in place often don’t understand their terms.
Trusts or Trust Provisions in a Will are practical and handy methods by which Clients…
Ensure that property (especially cash bequests!) pass to children and grandchildren in stages, when they are mature enough to handle their inheritance.
Provide for family assets to pass to the next generation in the event of a remarriage of a surviving spouse.
Enable those who own property in more than one state to reduce the red-tape and expense of an estate which must be settled in multiple jurisdictions.
Trusts are useful planning tools, even for folks who may not have “high wealth” estate planning requirements…
The perception many clients have is that trusts are only useful for the super affluent, or for those with highly complex financial affairs. This is not true, although the legal terms which govern trusts can be intimidating. Real-life explanations can easily illustrate how they work, and for families or individuals who wish to provide for either vulnerable and/or financially reckless beneficiaries, trust provisions are essential to compassionate planning for the future. We will guide you to determine where trust provisions apply in your estate planning, and how we have assisted other families.