Trusts
For your information: Estate Planning
ESTATE PLANNING The phrase “estate planning” may seem like something reserved only for the wealthy but it is actually a course of action. Actions whereby an individual takes into account various laws in order to gain maximum benefit while carrying out the individual ‘ s own wishes for the disposition of their property upon death. …
Bah Hum Bug to Estate Planning, We Should All Die Without a Will (Part 3) – Probate (the short answer)
Probate is a court procedure by which a will is proved to be the valid or invalid. However, through current usage, the term probate has been expanded to refer to the legal process by which the estate of a decedent is administered. Generally, speaking, the probate process involves collecting a decedent’s assets, liquidating liabilities, paying …
Bah Hum Bug to Estate Planning, We Should All Die Without a Will (Part 4) – Trusts
There are two types of common trusts, testamentary and lifetime trusts. A testamentary trust springs into existence when someone dies. These trusts are embedded in a will or another trust and are often used to protect assets or save taxes. A lifetime trust is called a “living” or “revocable” trust. It is most often used …
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