Monday, February 25th, 2013

HOW TO AVOID PROBATE?


post_1 One way of avoiding probate is to a Revocable Living Trust. Advantages of Revocable Living Trust:

  1.  CONTROL: A revocable living trust provides the flexibility of allowing the grantor(s) to be the trustee during life.  In other words, the grantor(s) can continue to control the assets;
  2.  CHANGEABLE:  A Revocable Trust can be changed or canceled at any point prior to death;
  3. INCAPACITY PLANNING:  A revocable can be used for incapacity planning by having successor trustee or co-trustee take over in the event of incapacity of grantor/trustee;
  4. PROBATE AVOIDANCE, DEATH AND INHERITANCE PLANNING: Upon the death of the grantor(s),  the successor trustee is responsible for executing the instructions of the grantor without court action and privately.  The same as a vice president ...Read More>>

Monday, February 11th, 2013

PURPOSES OF TRUSTS


post_2 PURPOSES OF TRUSTS

  1. PROBATE AVOIDANCE.
  2. ASSET PROTECTION.
  3. INCAPACITY PLANNING.
  4. ASSET MANAGEMENT.
  5. PROTECT AND MANAGE ASSETS OF MINOR OR SPECIAL NEEDS CHILDREN.
  6. DIVORCE PROTECTION AND PRE-MARITAL PLANNING.
  7. REMARRIAGE PROTECTION.
  8. LONG TERM CARE PLANNING: PROTECTION AGAINST HEALTH CARE COSTS.
...Read More>>