In our past articles on estate planning, we have primarily discussed the Revocable Trust, which allows your estate to avoid probate but does not protect your estate from creditors. If you are interested in using estate planning in order to shield certain assets from your creditors, two other vehicles may be useful: (1) the Family Limited Partnership; and (2) the Irrevocable Trust.
August 9, 2023
This week, I received the following question from a reader.
Q: Hi I read your blog about funding a revocable trust. My husband and I are talking about getting them, but all we have of significant value (besides house, and a money market ($500,000), is life insurance on his life ($2M). Your article says you should keep the beneficiary of a life insurance policy first to a wife then to a trust. Why?
A: Whether to make your revocable living trust the beneficiary of your life insurance policy depends on your personal situation and what your goals are. There is no one-size-fits-all answer to this question, so it is important to have your attorney educate you and assist you in making an informed decision.
August 9, 2023
In this article we will be discussing What Are the Requirements to Execute a Valid Will and Other Estate Planning Documents and we answer the questions of:
August 9, 2023
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