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What Key Estate Planning Tools Should I Know About?

Planning is a part of nearly everything we do in life. It’s even a part of dying. How will you preserve your assets from estate taxes and probate fees? How will you ensure distribution according to your wishes? Who will make financial and medical decisions in the event of your incapacity?

By taking steps in advance, you have a greater say in how these questions are answered. And isn’t that how it should be?

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How Can a Living Trust Help Me Control My Estate?

Living trusts enable you to control the distribution of your estate, and certain trusts may enable you to reduce or avoid many of the taxes and fees that will be imposed upon your death.

A trust is a legal arrangement under which one person, the trustee, controls property given by another person, the trustor, for the benefit of a third person, the beneficiary. When you establish a revocable living trust, you are allowed to be the trustor, the trustee, and the beneficiary of that trust.

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What Are the Pitfalls of Probate?

Have you ever wondered what will happen to your estate after you die? How long will it take for your loved ones to receive the estate you’ve left them? Will each receive what you’d like them to have?

If you’re like most people, your estate will go through a lengthy probate process.

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