Trusts are a good estate-planning tool. I often say they are an excellent option when a family needs flexibility, such as after a second marriage results in a blended family or when there is a special-needs family member. Trusts provide the ability to control assets from the grave.
There are three elements you need to consider about the status of your stepchildren or foster children when determining whether they can inherit your estate.
Despite what you may think, estate planning isn’t just for the elderly. Estate planning is the process in which one plans for the unexpected, whether it be death, disability, or incapacity. In our inaugural episode of “Estate Planning Essentials,” we’ll break down the estate planning basics. From medical directives to memorial instructions, document drafting to trusts, we’ve got you covered.
Even a fender-bender can leave you shaken; so, in the excitement of an automobile crash, it is hard to remember what you should do. As a way to document the details while they are still fresh, you should TRAP IT in your memory by taking these steps to record the facts.