So this myth is also a version of like, I hear, well, this person who I have, my son, my daughter, my friend as my trustee, and they’re very smart, and they’re good with money. They may even be an attorney, a CPA, or some kind of professional that we assume will know how to […]
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What Is a Living Trust?
A revocable living trust is a written agreement that places some of your assets under the control of a trustee according to terms you establish. Typically, you can name yourself as one of the trustees allowing you to manage the trust assets while you live. Because the trust is revocable, you can amend its […]
A Basic Guide to Trusts in Estate Planning
Trusts are one of the most powerful tools in estate planning, yet they are often misunderstood. Many people assume trusts are only for the ultra-wealthy or that they are too complex to be practical. In reality, trusts can benefit individuals at various income levels and offer solutions to common estate planning challenges. Understanding the basics […]
Protection Through Estate Planning: The Hidden Cost of Being a Daughter
Hey everybody, this is Bridget MacKay with MacKay Dressler Law Firm. Today, I want to talk a little bit about the hidden cost of being a daughter in an estate plan. So today we’re kind of talking to the next generation, the adult children who are helping their elderly parent or friend, neighbor, aunt, […]
What Happens to Your Business When You Die?
What happens to your business when you die? The answer depends on how your business is structured. In most cases, the outcome without a plan in place is far worse than owners expect. Your business does not simply pass to your family the way a bank account does. Depending on your entity type, it may […]
Myth vs. Reality: Estate Planning Is Only About Death
So this is one of my, I don’t know if I should say favorite, but one of the most sort of aha moments for prospects who are looking to get their estate plan to realize that plans are not just for planning for death and where your assets will go. More often than not, […]
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