It could be said that end of life planning contains three distinct components: the physical, the financial, and the philosophical. You can state your wishes concerning these matters by drawing up three different wills. Standard Will When most people hear the term "will" as it applies to estate planning they are going to think about the standard will that provides instructions for the distribution of the property of the deceased. We have all heard the term "last will and testament." The … [Read more...] about A Will For Every Purpose
Wills and Trusts
A Living Trust Can Be A Viable Option
The reason why it is a good idea to consult with an estate planning attorney before you make any final decisions about the anatomy of your estate is the fact that they can lay all of your options on the table. There are a number of possible components that can be included in a well conceived, comprehensive estate plan, and there is really no reason why the layman would be aware of them and why they may be advantageous. One of these is the revocable living trust, and when you hear about the way … [Read more...] about A Living Trust Can Be A Viable Option
Generation-Skipping Trusts
It seems kind of strange in a way, but one of the primary goals of estate planning is to keep your assets intact as you are passing them along to your loved ones. The reason why this reality is rather odd is that you may naively think that what is yours is yours and when you pass away you simply leave your assets to your heirs in their entirety and that's it. But unfortunately, the government feels as though you do not have that right. Estate tax is imposed when you bequeath your assets to your … [Read more...] about Generation-Skipping Trusts
