Approximately three-fourths of Americans do not have a basic will.[1] Many of the same people also have children under the age of 18, which underscores a major misunderstanding about estate plans: They can accomplish much more than just handling financial assets (money, accounts, and property). One of the most important estate plan functions for parents […]
Many believe that once they set up and fund a revocable living trust, property held in the trust will completely avoid federal estate taxes after they die. In reality, a Revocable Living Trust (RLT) does not exactly provide any unique estate tax avoidance strategies. The primary mechanisms for reducing estate taxes—the unlimited marital deduction and […]
If you have established a revocable living trust (which we will refer to simply as a trust), congratulations! You are on the right track in creating a comprehensive estate plan. However, you are only halfway there. Many people believe that because they took the time to create a trust, their estate will automatically avoid probate, […]
Many of us are familiar with the story of Snow White and the Seven Dwarfs. Central to the story is the relationship between Snow White and her stepmother. After losing his first wife, the king decided to remarry in order to provide a motherly influence for his daughter, Snow White. While things were peaceful for […]
