What’s the Difference Between Estate Planning and Drafting a Will?

What’s the Difference Between Estate Planning and Drafting a Will? Estate planning and drafting a will are two different things. While some people may think they are one in the same, they are actually quite different. Estate planning is concerned with the distribution of your assets while drafting a will is concerned with making sure […]

What Are Charitable Remainder Trusts and How Can They Help You?

What Are Charitable Remainder Trusts and How Can They Help You? A charitable remainder trust is a unique type of trust with both tax and charitable benefits. It’s used to help a person or family meet their financial needs while also putting their money to good use. A Charitable Remainder Trust (CRT) is the most […]

Dealing with the Unforseen: Irrevocable Life Insurance Trusts

Dealing with the Unforeseen: Irrevocable Life Insurance Trusts Life insurance is a unique asset. It’s a contract where one party – the insurer – promises to pay another party – the policyholder – a fixed cash amount at some point in the future. This future payment is known as a death benefit, or in more […]

3 Ways to Use an Individual Trust for Your Retirement Plan

An individual trust is a powerful estate planning tool. If you believe you don’t have enough money to set aside for retirement, an individual trust might be the answer. You can use it to provide income from your fixed assets during retirement. In addition, it can help you avoid probate and reduce taxes. It also […]

The Benefits of Joint Trusts for Your Family

Joint trusts are an excellent way to provide for your family after you’ve passed away. They allow you to manage assets during your lifetime while still protecting them from estate taxes. Here are the benefits of joint trust that make it a good choice for many families. 1) You can decide who will be in […]

What is a Durable Power of Attorney?

Affectionate grandparents

You may not know this, but a Durable Power of Attorney is a very important and often overlooked legal document that allows you to designate someone else to make financial and medical decisions on your behalf if you are unable to do so. If you live in the United States, it’s likely that you don’t […]

The Meaning Behind Irrevocable Life Insurance Trusts

Irrevocable life insurance trusts are a great way to ensure that your current and future family members will always have the financial resources they need. For many, setting up a life insurance trust is a natural next step once they’ve purchased the life insurance policy for themselves or their spouse. The life insurance policy remains […]

What Estate Planning Is and Why It Matters?

Happy family

What Estate Planning Is and Why It Matters. Estate planning is something that everyone should do. Estate planning is the process of making decisions about what happens to your property, investments, and debts after you die or become disabled. Too many people think estate planning only applies if they are wealthy. But the truth is […]

What Is An Irrevocable Life Insurance Trust?

One of the most common misconceptions about life insurance is that it’s a savings account for your family. It is not. Life insurance helps to provide financial protection for your family in case something unexpected happens to you. A key part of this financial protection is that the proceeds are paid directly to your beneficiaries, […]