ITEMS THAT TRIGGER AN ESTATE PLAN REVIEW The following is a list of some events that would suggest your estate plan be reviewed. Of course, this list is not exhaustive; there are other items that would trigger a review of your estate plan. Your estate plan has not been reviewed within the past year. You […]
LIVING TRUST TIPS Living Trusts do NOT avoid probate, unless assets are held in the name of the trust. Having a Living Trust does NOT mean you have a completed estate plan. Having a Living Trust does NOT mean there will be no estate taxes when you die. When a person with a Living Trust […]
CHOOSING AN ESTATE PLANNING AND TRUST ADMINISTRATION ATTORNEY 10 Questions to ask your attorney Finding the right attorney to assist with your estate planning and trust administration can be a frustrating and confusing experience. With the myriad of resources and consultants in the marketplace, here are a few questions to ask the person you are […]
DO YOU NEED ESTATE PLANNING? Do you need a Will or Living Trust? Yes, if you want to control how your assets will be distributed at your death. Do you have a Will or a Living Trust which is more than one year old? If yes, it should be reviewed. Do you have minor children? […]
TRUST ADMINISTRATION CHECKLIST Contact an experienced trust administration attorney. (a) Failure to get proper advice can subject the trustee to personal liability. Review the estate plan. (a) Determine how many trusts need to be created. (b) Determine the trustees and beneficiaries. Collect all information regarding assets owned. (a) Was there life insurance on the decedent’s […]
LIMITED LIABILITY COMPANY BENEFITS The use of a Limited Liability Company (LLC) may be the premier planning strategy for reducing estate and gift tax liability. The following is a summary of some of the benefits of using an LLC.
ADVANCED ESTATE TAX PLANNING TECHNIQUES The following is a summary of various Advanced Estate Tax Planning Techniques available for eliminating or minimizing estate taxes. While not all techniques may be appropriate for your situation, you should see which ones might be beneficial to you and your family.
IRREVOCABLE LIFE INSURANCE TRUST TIPS The following top ten tips about Irrevocable Life Insurance Trusts (ILIT) are so important, that the failure to comply with any one of them can not only cause the estate plan to be ruined, but can cause a death tax on the life insurance proceeds, even though they are held […]
BENEFITS OF A HERITAGE TRUST The use of a Heritage Trust may be the perfect estate plan for your children and other descendants. The following is a summary of the benefits of using a Heritage Trust for your family members. While they can be used for any beneficiary, this list assumes that the trust has […]
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