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Trust
Many of us hesitate to change professional relationships, especially regarding legal matters. I often meet people who feel "tied" to their original estate planning attorney, even when that relationship no longer serves their needs.
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One of the most frequent questions I hear is, "Is my estate large enough to justify a living trust?" Behind this question often lies a deeper concern: "Am I making the right choice for my family's future?" Let me share something that might surprise you – the size of your estate is just one small...
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You might be thinking, “QTIP? Quality Tip?” It sounds like a product for your ears, but a QTIP Trust actually stands for Qualified Terminable Interest Property Trust. Despite its complex name, it’s a highly useful estate planning tool that helps balance the financial needs of a spouse while preserving assets for future beneficiaries—often children. Let’s...
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Imagine you’re at a family reunion, and your eccentric Uncle Bob starts discussing how he’s become a “Grantor.” Your cousin Sarah rolls her eyes, assuming it’s just another of Bob’s quirky hobbies. But little does she know that Uncle Bob might be the most intelligent person at the picnic table. I can tell you that...
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Regarding estate planning, one of the most essential tools available to individuals is a trust. Think of a trust as a box with an instruction manual. The instruction manual controls what’s in the box and where it goes at the time of your passing. But here’s the catch – if nothing is in the box,...
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You’ve found your dream home and your offer’s been accepted – this is an exciting time! As you approach closing, your agent, attorney, or title company will ask how you’d like to hold the title to the property. While individual ownership is common, placing your new house into a trust right from the start has...
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The word “trust” gets used quite broadly, creating potential confusion. While a “living trust” is a widely discussed instrument for estate planning, it’s crucial to understand that not every trust is a living trust. We’ll break down the key distinctions. What is a Trust? Simply put, a trust is a legal arrangement where someone (the...
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Buying a new home is more than just a significant financial investment; it’s a key component of your overall estate. As you embark on this exciting journey, it’s crucial to consider how this asset will be managed, both now and in the future. One effective strategy for managing real estate assets is setting up a...
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When you’re working with a trust attorney, it’s crucial to understand what you can include in your trust document. Let’s explore the variety of instructions or restrictions that can make your trust truly yours, ensuring your legacy is managed just the way you envision. Tailoring Your Trust: A Guide to Restrictions Creating a trust allows...
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Many people mistakenly believe that without direct heirs—like children or grandchildren—there’s no need for estate planning. However, the reality is quite different. Even if you don’t have immediate family to inherit your assets, deciding how your estate will be distributed is crucial. If not, you might be surprised at who ends up with your hard-earned...
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