Advanced Estate Planning: Is It Right for You?

Sometimes, simple is not best. Estate planning should be tailored to meet the needs of your life, and sometimes that life is complicated. Advanced estate planning may be right for you. Basic estate planning is . . . A simple plan typically includes a Will, a durable power of attorney, a healthcare power of attorney and/or a living Will. But basic estate planning covers basic needs. Some people require more Read More

Do You Need a Trust Protector?

Trusts have been a powerful, yet evolving, estate planning tool for a long time. As trusts have changed, the need for extra protection and a way to modify trusts became apparent. Trust protectors, sometimes also known as Trust Advisors, may meet both needs. Just as it’s important to understand the type of trust that is appropriate for you, it’s also critical to make sure you have the right people working on Read More

3 Reasons to Set Up a Gun Trust

Some estate assets require a little more care than others. It’s not difficult to leave someone the family china, but firearms are a different story. Some guns are strictly regulated, and passing them incorrectly can cause real problems. Gun trusts are created primarily to provide a way to handle guns that are regulated by the National Firearms Act of 1934 (NFA). If you currently own guns or will be inheriting some, Read More

Spendthrift or Discretionary Trust – Which One Do I Need?

Trusts are a common estate planning tool. Reasons to create and fund a trust range from asset protection to providing for someone with special needs. Some trusts even have similar purposes. Two such trusts are the spendthrift and discretionary trust – similar enough, but with significant differences. Knowing which trust to use is critical. Trusts in General In a trust document, the person creating the trust (a Read More

Spendthrift Provision: Protecting Beneficiaries from Themselves

Most of the time, we have the best intentions when deciding who will get our property after we’re gone. A well-crafted, comprehensive estate plan can give the maker a sense of accomplishment, contentment, and serenity. During the estate planning process, though, people start to ask some hard questions about their heirs: Are my loved ones able to manage receiving a large sum of money or valuable property? Are they so Read More

Does Your Loved One Need a Special Needs Trust?

When you’re the caregiver of a loved one with special needs, you make important decisions every day. Sometimes those decisions are life-changing – for you and your loved one. Often, caregivers enlist the help of experts: therapists, medical specialists, and other advisers. It’s also important to consult with an attorney. An attorney who understands the needs of disabled individuals may suggest creating a special Read More

What Is a Directed Trust?

People may think estate planning consists only of writing a Last Will and Testament. However, trusts are commonly used in estate planning. Many of us may have heard about revocable trusts or special needs trusts. Some individuals may have already set aside some of their property in a trust on the advice of their estate planning attorney. One trust that may be a mystery to most people is the directed trust. Directed Read More