When you plan your estate, you make conscious decisions about the way that your monetary assets will be transferred after you are gone. A lot of people think that estate planning boils down to the creation of a will, but there are other ways to transfer assets. Personalized Planning There are different approaches that can be taken, and the right way to proceed will depend on the circumstances. For example, let’s say that you have someone with a disability on your inheritance list, and they … [Read more...] about What Is Estate Planning?
There are many different legal devices that can be used when you are planning your estate. You never have to settle for an approach that is less than ideal, because there is a solution that can be implemented to address any concern. With this in mind, we will look at the incentive trust in this post. Encourage Desired Behavior Incentive trusts are often used by high net worth individuals that could potentially set their loved ones up for life. Some people have no problem taking this … [Read more...] about Consider an Incentive Trust
When you are engaged in inheritance planning and deciding how you would like to provide for your various family members, the specifics of each individual's age, personality, and station in life are going to come to mind. For many people making these plans is not as simple as looking at a pie and deciding how many slices to cut it into and how thick each slice should be. You may have the desire to guide your loved ones in beneficial directions and away from avenues that you deem to be … [Read more...] about Giving More With Incentive Trusts