The revocable living trust is a very useful estate planning tool. Contrary to popular belief, you do not have to be wealthy to benefit from a living trust. You continue to control the assets that you convey into a revocable living trust because you can act as the trustee and the beneficiary while you are alive and well. It is possible to change the terms of the trust, and you can even dissolve the trust entirely if you choose to do so. When it comes time to create a trust, understanding these … [Read more...] about 4 Things You Should Know to Create a Trust
Using Living Wills as Advanced Directives
Those who have found themselves or a loved one admitted to a hospital emergency room have likely been asked whether they have an advanced directive. Most people do not, unfortunately. Not having an advanced directive can lead to unnecessary family stress and confusion at a time that is already difficult. If you suffer a serious injury and need emergency care, or if you are suffering from a serious medical condition, it is likely that very important medical decisions will need to be made. … [Read more...] about Using Living Wills as Advanced Directives
Including Organ Donation Instruction in Your Estate Plan
Creating your estate plan doesn’t just include making sure your assets go to the right people. It also includes deciding how you want other affairs to be handled after your death. Organ donation is one of the issues to consider when creating your plan. We’ve outlined information below to help you explore your options. If you have any questions, or if you’d like to include your organ donation wishes in your plan, meet with a qualified estate planning attorney. Organ donation is a great way … [Read more...] about Including Organ Donation Instruction in Your Estate Plan
Why Do I Need a Huntersville Revocable Living Trust?
Have you been wondering what the term “inter vivos trust” means and why it should matter to you? Here's what you need to know. This type of trust is actually one you’ve probably read about in your research, but it is more commonly known by its other name – the living trust. Our living trust attorney will explain everything you need to know about a Huntersville revocable living trust. What is a revocable Living Trust A Huntersville revocable living trust is a powerful legal agreement that can … [Read more...] about Why Do I Need a Huntersville Revocable Living Trust?
Do You Need a Trust Administration Checklist?
When it comes to estate planning, trust administration is a critical component. The trustee is the person who is responsible for complete management of the trust property and other important duties. A trustee must know several really important facts to properly fulfill his or her duties. Here is a trust administration checklist to help you through the process. Trust administration can be very complicated Many people do not realize that trust administration is not as simple as just distributing … [Read more...] about Do You Need a Trust Administration Checklist?
Will or Living Trust? Charlotte Living Trust Attorney Compares the Two
When most people think of estate planning, their first thought is the last will and testament. However, the last will and testament is not the only option for estate planning, and it may not be the best option either. When you use a will, your heirs receive lump-sum inheritances once the will is probated. But not all of your heirs will necessarily be good at managing money or a large amount of assets. This is particularly true if they are minors at the time of your death. Let our Charlotte … [Read more...] about Will or Living Trust? Charlotte Living Trust Attorney Compares the Two
Huntersville Revocable Trusts and Asset Protection
Asset protection is important to some individuals for one reason or another. There are certain lines of work that leave people open to legal actions, and shielding resources from the disgruntled former spouse of a family member can be another concern. Some people hear about Huntersville revocable trusts and make some sweeping assumptions. While these trusts are valuable on a number of levels it is important to understand that if you can revoke a trust, it does not provide asset protection during … [Read more...] about Huntersville Revocable Trusts and Asset Protection
Florence Trust Lawyers Explain the Importance of Funding
A living trust can be an effective building block to construct your estate plan around because it is a versatile device, that is a good fit, for a wide range of people. You can benefit from a living trust, even if you do not consider yourself to be wealthy. But, when it comes to trust administration proper funding is crucial. Let our Florence trust lawyers explain. How a revocable living trust works The revocable living trust is an estate planning device that you should certainly explore … [Read more...] about Florence Trust Lawyers Explain the Importance of Funding
Planning For a Child With Special Needs
Any family that cares for a child with special needs must consider special needs planning as a part of their overall estate plan. Why? Because someone has to be able to take care of that child in the event of the parents’ death. A special needs trust can be just the solution you’re looking for. Parents of children with developmental disabilities and other special needs often face unique challenges when it comes to estate planning. A simple will or trust is not enough While the average family … [Read more...] about Planning For a Child With Special Needs
Pros and Cons of Revocable vs Irrevocable Trusts
For many people, the choice between an irrevocable trust and a revocable trust comes down to a matter of asset control. The truth is that there are some clear differences in benefits that should also be considered. Trusts have been around for a very long time, but they’ve only really begun to gain mainstream acceptance in the last several decades. When it comes to choosing between an irrevocable and a revocable trust, our estate planning lawyers can help you decide between revocable vs … [Read more...] about Pros and Cons of Revocable vs Irrevocable Trusts
