A revocable trust allows assets correctly transferred into the trust during the grantor's lifetime to bypass probate. This can simplify asset distribution and help preserve privacy.
Revocable trusts are a powerful tool for anyone’s estate planning. Use them to protect your assets during your lifetime, manage taxes and streamline inheritance.
Discussing estate planning with your aging parents is vital to protect their wishes. It can be a hard conversation to start. However, it’s still necessary.
Although many cases go unreported, the National Council on Aging suggests that the financial exploitation of the elderly may amount to a staggering $36.5 billion annually. That may just be the tip of the iceberg.
From engaging with people professionally and personally, to posting photos, storing files and accessing our bank account information, this all represents what’s known as our ‘digital legacy.’
There are many ways to hand down a house—from gifts to outright sales, irrevocable and revocable trusts to wills—each with different benefits and drawbacks.
