According to the National Council on Aging, up to 5 million seniors suffer abuse and exploitation each year. The financial losses alone are estimated at around $36.5 billion. It is sobering to learn that one in 10 people over age 60 is mistreated in their own home by a caregiver, a family member, or […]
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Tread Carefully with Specific Bequests
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article explores how specific bequests may provide unintended results.
Grandchildren, Trusts and Estate Planning
One of the most preferred ways of leaving assets behind for your grandchildren is to name them as beneficiaries in your estate plan. Trusts are useful because they allow you to control your assets even after you die. Through a trust, you can state how you want the money you leave behind to be managed. […]
Incentive Trusts: Can They Work For You?
Incentive trusts, like other trusts, are established by a grantor who names a trustee and funds the trust with the grantor’s assets. The difference between incentive trusts and other trusts is that distributions are made only when a beneficiary achieves certain contingencies — such as attaining a college degree or getting married — that […]
Take These Precautions to Prevent an Estate Challenge
Have you made an inheritance planning decision that will sit well with someone who will be expecting a bequest? If you answer this question in the affirmative, you should take certain steps to prevent an estate challenge, and we share them in this post. Do not die without a will or trust. Intestacy is the […]
A Message from the Murdochs
Art often imitates life and the latest drama surrounding Rupert Murdoch demonstrates that. Most of the time, when an individual creates an irrevocable trust, they part with dominion and control over the assets, and it is difficult to change the terms. Not long ago, Rupert Murdoch filed a petition in Nevada probate court to change the terms of an irrevocable trust that was originally created in 1999.
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