What to think about when deciding whether a trust is right for you. Though we can help you with a wide range of wealth management services, trusts are the bedrock of our business — our namesake and how we began. Yet, we know not everyone understands what a trust is.
Talking with loved ones about estate planning and inheritance can be challenging, especially as it centers around two taboo topics – money and death. But talking with your adult children about their inheritance can provide signature advantages for you and them. It can help your heirs better prepare for the.
Wondering what the difference between a revocable and irrevocable trust is? Check out this comparison guide. Estate planning is a highly personal process; consequently, many people opt to use a trust, as opposed to a will, as the main vehicle for transferring their assets. Trusts are customizable, offer privacy, and.
Trust Point regularly receives questions from clients about their estate plans. One of the most common of these questions is whether they should use a revocable living trust vs will to pass property to their heirs. While there is no one-size-fits-all answer to this question, the information that follows should.
Are you ready to set up a trust for your family? Get started with this detailed how-to guide
At Trust Point, we take great pride in our ability to develop meaningful, lasting relationships with clients. Similar to a doctor/patient relationship, a strong partnership is based on mutual respect, honesty, and above all, trust. We offer some advice to help you get the most value from our interactions. Ask.
The Trust Point Information Organizer is created to help aid you in compartmentalizing all of your important information regarding assets, accounts, funeral plans, etc. This is also helpful to pass on to your personal representative, Executor, and/or Trustee(s) upon time of death. View and download an electronic copy by clicking.
#1: Someday…you will die. It seems harsh, but it’s a reality we all face. If you don’t agree, then estate planning may seem unnecessary. However, if you accept the fact that you won’t be alive forever, you should keep reading. When we die, someone will be asked to pick up.
Marital vs. Non-Marital Assets: Estate planning is not divorce planning. Without a pre- or post-nuptial agreement, marital assets are subject to equitable division in a divorce proceeding. Effective for divorces finalized after January 1, 2019, alimony payments will no longer be tax-deductible by the paying spouse and will not be.
It has been a year since the coronavirus pandemic permeated almost every area of our lives. As we navigate through a myriad of emotions posed by the uncertainty of this virus and its impact, the time-honored phrase that “life is short” has become a difficult one to ignore. The struggles.
Warmer weather, lower costs of living and the ability to enjoy outdoor activities are all strong considerations making migration south attractive for many retirees. Purchasing a new residence to escape the winter weather becomes even more enticing when it also provides attractive income and estate tax benefits. However, if you.
With a tumultuous year behind us, it’s time to start focusing on the year ahead. In the world of financial management, there are several important changes to be aware of. Here’s a breakdown of some of the most important updates to understand in 2021: The Consolidated Appropriations Act, 2021 (CAA) In.
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