You may have heard about the elaborate estate plans that have been created by some very wealthy people. As a case in point, a number of years ago, the estate of the “Queen of Mean,” billionaire Leona Helmsley, was in the news. She may have been mean to some, but she had an entirely different attitude when it came to her Maltese, Trouble. Helmsley left the dog a trust fund that was stuffed with $12 million that was earmarked for the care of the animal. If you are thinking that Trouble was … [Read more...] about Pet Trusts Are Not Strictly for the Rich and Famous
There is a popular misconception that is embraced about trusts. A lot of people think that you would never consider using a trust unless you are a multimillionaire with a complex financial empire. In reality, there are a number of different types of trusts, and many of them are perfectly useful for people that do not reside in the financial stratosphere. And of course, there are trusts that are used by people that have achieved a great deal of financial success. We are going to look at … [Read more...] about A Trust Can Be Used to Satisfy These Three Objectives
There is no denying the fact that people love their pets, and why not? Our dogs and cats are a great source of joy, providing entertainment, companionship, and a particular brand of love. A lot of people do not think about their pets when they are engaged in the estate planning process. They assume that they are going to outlive their fine furry friends and in many cases they will. However, there are no guarantees so you really should ask yourself what would happen to your pet if you were to … [Read more...] about Is Your Pet Included in Your Estate Plan?