Many people seek a Living Trust for a singular purpose: to protect their assets from a potential or pending lawsuit. The hope is that transferring assets from the person’s name to that of the trust can block a creditor’s ability to access them. This way of thinking is not totally correct. There are two forms […]

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

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

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

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

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

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

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

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

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