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What Is a Subtrust? Additional Benefits Subtrusts Provide

What Is a Subtrust? Additional Benefits Subtrusts Provide

POSTED ON: February 14, 2024 BY: Troy Werner
A subtrust is a separate entity created under the umbrella of a primary trust or a will. A subtrust becomes active based on the terms of the trust or will when certain events happen, such as the death of the primary grantor, or creator. Subtrusts are one tool that estate planning attorneys use to help families pass on inheritances and protect their heirs from creditors or issues such as lawsuits or divorce. Subtrusts serve various purposes depending on…
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Understanding Totten Trusts: A Guide to Payable on Death Accounts and Avoiding Probate

Understanding Totten Trusts: A Guide to Payable on Death Accounts and Avoiding Probate

POSTED ON: February 13, 2024 BY: Troy Werner
This article aims to provide you with a detailed understanding of Totten Trusts, a vital component in estate planning that can significantly simplify the process of transferring assets upon death. Let’s explore how Totten Trusts can help you avoid the lengthy probate process and ensure a smooth transition of your assets…
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Who Can Benefit from a Special Needs Plan: Crafting a Comprehensive Plan for the Future

Who Can Benefit from a Special Needs Plan: Crafting a Comprehensive Plan for the Future

POSTED ON: February 12, 2024 BY: Troy Werner
Whether you’re a parent with a special needs child or an adult caring for an elderly or special needs loved one, understanding the benefits of a comprehensive Special Needs Plan is crucial. Careful planning ensures that the individual with special needs has clear financial security upon your death, as well as specific goals to address the needs of your child or loved one so that they can be successful in the future. From guardianship and living arrangements to managing finances and planning for adulthood, each element of a special needs plan plays a crucial role in ensuring a secure and…
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Select What Is the Biggest Mistake People Make on Their Wills? What Is the Biggest Mistake People Make on Their Wills?

What Is the Biggest Mistake People Make on Their Wills?

POSTED ON: February 11, 2024 BY: Troy Werner
Have you managed to avoid the eight most common estate planning mistakes? Your family will thank you.
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How to Liquidate Assets after a Loved One's Death

How to Liquidate Assets after a Loved One's Death

POSTED ON: February 10, 2024 BY: Troy Werner
The loss of a loved one is a difficult time, often compounded by the necessity of addressing estate settlement and the liquidation of assets. In this guide, we’ll explore the key steps involved in liquidating assets after death, focusing on estate settlement processes and related legal considerations. Understanding the Role of…
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Select Can I Prevent Children from Fighting over my Estate? Can I Prevent Children from Fighting over my Estate?

Can I Prevent Children from Fighting over my Estate?

POSTED ON: February 9, 2024 BY: Troy Werner
Parents typically do not want their surviving children to fight over their inheritances after the parents die. Careful planning may reduce the risk of foreseeable in-family conflicts.
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Estate Planning for Unmarried Senior Couples

Estate Planning for Unmarried Senior Couples

POSTED ON: February 8, 2024 BY: Troy Werner
Creating an estate plan for an unmarried couple is already challenging. However, when the cohabitating couple is in their golden years, it’s especially tricky.
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Is Retirement Planning the Same as Estate Planning?

Is Retirement Planning the Same as Estate Planning?

POSTED ON: February 7, 2024 BY: Troy Werner
It’s best to create both together when possible so that they can complement each other. Here’s what you need to know.
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Estate Planning Tips for Blended Families to Protect New Goals and Loved Ones

Estate Planning Tips for Blended Families to Protect New Goals and Loved Ones

POSTED ON: February 6, 2024 BY: Troy Werner
Estate planning for blended families presents unique challenges. Unlike traditional family structures, reports Barrons recent article titled, “When Remarrying Creates a Blended Family: Advice From Financial Pros,” blended families often involve complex relationships and diverse financial backgrounds, making the process of estate and financial planning more intricate. This article has tips for blended families on identifying overall estate planning goals and concerns and identifying heirs to protect your new family and future.
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5 Reasons a Will Is Your Secret Weapon (Even If You're Young and Healthy)

5 Reasons a Will Is Your Secret Weapon (Even If You're Young and Healthy)

POSTED ON: February 5, 2024 BY: Troy Werner
In the vibrant journey of life, especially when we’re young and healthy, planning for the unexpected is often relegated to the back burner. The concept of a will, typically associated with age or affluence, might seem like a distant need. Yet, it’s a powerful tool that transcends…
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