Apr 28, 2015
It is not unusual for people to transfer existing assets to their trust, but then forget to add new ones. It bears repeating: a trust can only control the assets that are placed into it. Any assets purchased or accounts established after the initial funding is...
Apr 21, 2015
Every estate plan is based on the personal, family and financial situations, and tax laws, in effect at the time it was created. All of these will change over time, and your plan needs to change with them. It’s a good idea to review your plan every couple of years or...
Apr 14, 2015
A trust can only control the assets that are placed into it. A good visual to use is that of a trust being an empty bucket and funding the trust is the same as filling the bucket. The trust document may be written well and have excellent instructions, but until it is...
Apr 7, 2015
If someone cannot conduct business due to mental or physical incapacity, only a court (guardian) appointee can take over for this person—even if a valid will exists. (A will only goes into effect after death.) A power of attorney can name someone to also act for the...
