Grantor trusts relate to the taxation of a trust’s income and the protection of estate assets. Grantor trusts will notate who pays the tax on income generated by the trust and also to insulate the estate’s assets from the Grantor.

One of the main purposes of an grantor trust is to help ease tax burdens. The trustee will have to pay income taxes, but will gain control over the trust property. These types of trusts must be done by the grantor ...

Estate planning is an important process that needs to be carried out correctly for the sake of the ones you love. After all, when you pass away, they will be the ones left to tend to your affairs. By properly structuring your estate plan, your family will be better protected and better prepared for the future.

No matter what your personal situation, everyone should have a will. A will is vital so that your wishes are carried out correctly. It is ...

We all wait in anticipation or anxiety to become eligible for Medicare. To eliminate some of the confusion, here are some simple, basic facts concerning when, during the year, you may apply for Medicare coverage. This information refers to the two Medicare coverages you might pick, choosing one or both: Medicare Advantage Plan (Part C) and/or Medicare prescription drug coverage (Part D).

Enrollment is accepted at any time of the year when you are enrolling for the first time. ...

Everyone’s family situation is different, but nearly everyone has assets and belongings that deserve to be taken care of and distributed the way they want them to be. It is extremely important to have a properly drafted will that takes care of your assets in time of uncertainty.

Writing your will doesn’t have to wait until you’re nearing retirement. If fact, many young people can (and should) prepare their wills, especially if they have any substantial possessions or wealth. Especially if ...

It is extremely important to understand the job of an executor before you select who will be in charge of your estate.

The executor of a will or estate is responsible for carrying out the wishes of the estate. These tasks may include the disbursement of property to any beneficiaries, locating any additional potential heirs, collecting or paying the debts of the estate, and disapproving or approving claims from creditors.

The executor of the will be organized and reliable. They must maintain ...

The primary focus of a good estate plan should be protecting the people who you will pass your legacy to. Estate planning is about maximizing what you have worked so hard for and making sure your family and loved ones are protected after your death. Estate planning is easier than most people think. It will create peace of mind which is well worth the initial investment.

In addition to helping you organize your finances and assets in the short term, estate ...

A living trust is a popular way to avoid probate, which can be a very expensive and time consuming process. A living trust is created while a person is still alive; a revocable living trust is a trust that can be managed and changed throughout your lifetime.

If you have a living trust, probate is not needed because the trustees inherits the assets of the trust. Anything that is transferred into the living trust before death does not go through the ...

In uncertain times, it is important to be prepared for anything. It is important that you plan for your future, save for retirement, plan your next vacation, invest in a new home, etc. The problem is, many people neglect one very significant part of life – people forget about death.

Dying has never been more complicated; that’s why estate planning is so important. The State and Federal courts will prowl through your estates in search of their share of what you ...

A will essentially states who gets what. A trust is much more comprehensive and has many more benefits. In a trust, you make an arrangement in which one person manages assets for the benefit of a beneficiary.

Get the best of both worlds by combining a will and a trust into an estate plan. By doing so, the need for probate is eliminated. Instead of probate, distributions under a living trust are taken care of privately.

It is also important to know ...