A lot of people think that estate planning boils down to the execution of a simple will. This is definitely part of the equation, but there are other matters to consider, and a will is not always going to be the best asset transfer vehicle to utilize. Other Options You should definitely take pause … [Read more...] about Is Your Estate Plan Incomplete?
Advisors often include irrevocable trusts as part of a comprehensive estate plan to achieve both tax and non-tax goals. The use of irrevocable trusts can cause apprehension because of the perception that irrevocable trusts are inflexible in changing circumstances. This article explores how the use … [Read more...] about Changing “Irrevocable” Trusts Through Use of a Trust Protector
Irrevocable Trusts are often included as part of a comprehensive estate plan and are usually established many years before they pay out or terminate. These trusts didn’t change with changes in beneficiary circumstances or with evolving legislation, but now they can. This article explores how. … [Read more...] about Changing “Irrevocable” Trusts Through Decanting
Irrevocable Trusts have long been an effective, albeit static, estate planning tool. These trusts didn’t always change with circumstance, but now they can. This article explores how. … [Read more...] about Changing “Irrevocable” Trusts Through Judicial and Nonjudicial Modification
You have to be discerning about the sources of information that you trust when it comes to estate planning. People that do not mean any harm sometimes pass along ideas that are not entirely true, and this can lead to mistakes that can have a negative impact. With this in mind, we are going to … [Read more...] about Estate Planning Misconceptions Lead to Costly Mistakes
One of the major estate planning mistakes that people make is the failure to recognize the fact that this is an ongoing process. When you execute your initial estate plan, you are working with circumstances that are inevitably going to change if you act when you are relatively young. You should … [Read more...] about Is Your Estate Plan Outdated?