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Step Up in Basis

One of the key tax protections provided by a Revocable Living Trust is the inheritance of property with a step up in basis. This means that your beneficiaries will inherit any of your property at the market value it holds at the time of your death, rather than the market value it held at the […]


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Control of Assets, and Durable Power of Attorney.

In reference to a common misconception, many people worry that transferring their assets to a Living Trust–assets such as their homes and bank accounts–negatively affects, or even eliminates the control they have over those assets. This is entirely false. While transferring your house deed to the trust requires that the deed contain name of the […]


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Funding

Funding your revocable trust is a fundamental part of the trust-making process, a part that often gets overlooked. A trust, in and of itself, is little more than a vehicle through which your assets can pass to your beneficiaries after your death (while at the same time avoiding probate). In a sense it is like […]


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How to choose a trustee FAQ’s

Are you looking to start building your trust plan but have a few unanswered questions? We have answered a few general FAQ’s below that might help put your mind at ease a little about trustee’s. Who should I choose as my trustee? When you choose a trustee, you should consider first and foremost your trust […]


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Why Consider a Revocable Trust?

Sometimes even the most meticulous planners fall victim to unexpected circumstances. While a living will and trust can be an effective tool used to avoid probate, some people find themselves unable to keep these tools updated. With each large purchase, new family member, or boom in the family business, living wills and trusts need to […]


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What does Estate Planning look like for Military Families?

We recently took time to consider those valiant brothers and sisters who gave their lives defending our freedom. Our hearts are turned not only to them but also to their families in this season of gratitude and honoring. Having a military spouse or parent poses unique challenges in the event of a tragedy: military families […]


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When should I begin planning my estate?

Some of the first images that come to mind when you hear the words “will” or “estate” may be elderly couples, mansions, or vast amounts of land. Rarely does one think these things will become pertinent before the age of 45. The truth is, estate planning can be important much earlier in life! Millennials have […]


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Naming Co-Agents in a Power of Attorney

It has become more and more common for people to name Co-Agents in their Power of Attorney documents. Recently, we prepared a Power of Attorney for a client who named her two children as co-agents in her Power of Attorney. After executing the document, the client brought the executed Power of Attorney to her bank […]


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What Happens When a Bank Account Has No Beneficiary Designations?

We recently had a client who was named the successor trustee of her uncle’s trust and had the task in administering his Trust. All of the uncle’s assets were in the Trust except for a large bank account with no beneficiary designations. Typically, when a bank account (over $166,250) has no beneficiary designations and not […]


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Thanksgiving Dinner Is the Perfect Time to Discuss Estate Planning

Though you may be spending your Thanksgiving eating tons of delicious food, watching football, and taking a long tryptophan-induced nap, this may be the perfect time to discuss estate planning and let family members know about your future plans. It’s a time when families get together anyways and though it might not always be lighthearted, […]