Setting up a trust can be an essential part of the estate planning process. The creation of a trust can also be a key part of your asset protection and incapacity plan. There are many different types of trusts, each of which could possibly accomplish different purposes in securing your legacy and your financial security. Nirenstein, Horowitz & Associates can provide you with invaluable assistance in understanding what is involved in setting up a trust. We can help you to determine if you … [Read more...] about How to Get Started Setting up a Trust
Wills and Trusts
What Is An Irrevocable Trust? from Barry D Horowitz When you are planning your estate, you have to consider the available asset transfer vehicles. Most people have heard of trusts, but many assume that a last will can suffice. In fact, there are many different reasons why you may want to utilize a trust instead of a will. … [Read more...] about What Is An Irrevocable Trust?
Trust administration is something to take into account when you are making preparations for the future. Creating a revocable living trust can indeed be a very useful alternative to a last will as a vehicle of asset transfer. One of the major advantages is the fact that these trusts enable asset distributions outside of the process of probate. When you use a last will to state your wishes the estate must be probated, and this can take a considerable amount of time. In addition, there are … [Read more...] about Download Our Report on Trust Administration
When you procrastinate with regard to any given responsibility you may recognize the fact that you are taking a risk. Taking risks when you will be the person suffering the consequences should they arise is one thing. But when you gamble with the well-being of your children the situation is far more serious. Everyone should have an estate plan in place, but it is absolutely essential for parents with young children. You may think that you don't have to worry about it because you will be living … [Read more...] about Estate Planning for Parents With Young Children
Revocable living trusts are a good estate planning solution for many people, and this includes those who would not consider themselves to be wealthy. However, there are things they can and cannot accomplish and we would like to provide some clarity here. A revocable living trust is indeed revocable in a literal sense, so you can change the terms or dissolve the trust if you choose to do so. Most people also act as both the trustee the beneficiary while they are still alive so they retain … [Read more...] about What Living Trusts Do & Do Not Accomplish
You may have heard about living trusts and have questions about why you would want to use such a trust to arrange for the transfer of your assets after your passing. We have prepared an informative report that will answer all of your questions and provide you with some insight into why living trusts are becoming so popular these days. To obtain your free Connecticut living trust report simply click this link and complete the form that you will see so that we know where to send access: … [Read more...] about Connecticut Living Trust Information
When you place assets into a trust such as a revocable living trust you can act as both the trustee and the beneficiary if you choose to do so. Because you have control of the funds creditors could possibly seek to attach resources placed into the trust, so these vehicles do not provide any asset protection. In light of the above, is it in any way possible to benefit personally from resources placed into a trust while enjoying asset protection? The answer is yes. This can be done through the … [Read more...] about What Is An Alaska Trust?
Can you simply draw up your last will with the assistance of some type of do-it-yourself download or fill-in-the-blanks worksheet? The answer is that you can do it if you want to but the result may not be a very positive one. This is not just the opinion of a particular estate planning attorney. Most people are well acquainted with the magazine Consumer Reports. Of course they have a website as well now that we are in the Internet age and they have a stellar reputation as an independent source … [Read more...] about Consumer Reports Advises Against DIY Estate Planning
Many individuals would like to keep their final affairs confidential for one reason or another. If you were to utilize a last Will to express your wishes and arrange for the transfer of your assets confidentiality would not be assured. This is because your estate must pass through the legal process of probate if you use a last Will to direct asset transfers. Because the probate court supervises the administration of the estate everything that goes on becomes a matter of public record and the … [Read more...] about Is Confidentiality Important to You?
Do you really need to execute a last Will? This may come as a surprise given the fact that it is coming from an estate planning attorney's office but the answer is no. You do however need some type of vehicle of asset transfer. A last Will can serve this purpose, but you have alternatives such as the creation of a revocable living trust. These vehicles enable the transfer of assets outside of the oftentimes costly and time-consuming process of probate. The above having been stated, it should … [Read more...] about There Is One Will You Definitely Need