Trusts are an often recommended method of transferring assets after death. Trusts generally have many benefits, including the ability to avoid probate proceedings. There are different kinds of trusts that a person may establish, but they fall into two broad categories – revocable and irrevocable trusts. With both a revocable and an irrevocable trust, the… [Continue Reading]
Using a Pour Over Will Along With a Trust in Estate Planning
Some people prefer to use trusts as their main method of estate planning for various reasons, including the ability to avoid the long delay that probate may cause in distributing assets to beneficiaries. Those who use trusts often transfer titles to the property and assets they wish to distribute through the trust during their lifetimes.… [Continue Reading]
Owning Assets Jointly With Right of Survivorship
There are different ways to pass on property after a person’s death that avoid the use of a will. If a person owns property jointly with another person, he or she may wish to leave that share of the property to the other owner. While this can be accomplished in a will, it is faster… [Continue Reading]
What is a Holographic Will?
Having a will in place detailing your wishes as to how you want your assets distributed after your death can bring about peace of mind. Some people choose to use an attorney to prepare their wills as part of a larger estate plan. Others may choose to use books or online templates in order to… [Continue Reading]
7 Tips to Managing Your Digital Footprint Before the Hereafter
In last week’s blog, we discussed the potential hazards your heirs may face by not planning ahead to manage the chain of custody regarding your digital assets by incorporating them into your estate plans. Whether they have sentimental or monetary value, managing the inheritance of your digital footprint is as critical as your other real… [Continue Reading]
Beware The Man Bearing Gifts
There seems to be no dearth of stories in the news about unscrupulous con artists bilking unsuspecting victims of their money, especially when it comes to senior citizens. Earlier this month, an Ottawa County man was charged with more than 25 felonies and faces at least 30 years in prison for allegedly running a Ponzi… [Continue Reading]
Top 6 Differences Between Irrevocable and Revocable Trusts
You’ve finally made the decision to create a trust for yourself and your family but you come to a fork in the road: the irrevocable versus the revocable trust. Wait, what?! What’s the difference? While similar in concept, the differences are both critical and key to making an informed decision about the best device available… [Continue Reading]
