Disadvantages of Revocable Living Trusts
· All that you’ve told me about living trust—centered estate planning sounds really attractive. Are there any disadvantages of a revocable living trust? There can be, but they are few…
Details· All that you’ve told me about living trust—centered estate planning sounds really attractive. Are there any disadvantages of a revocable living trust? There can be, but they are few…
Details· What special challenges do unmarried couples have in planning their estates? The unlimited marital deduction applies only to couples deemed married under state law, making it harder to eliminate…
Details· I am a single parent with minor children. Is there special planning I should consider to take care of my children and myself? As a single parent, it is…
Details· What are the benefits of a revocable living trust? Control, cost, convenience, and confidentiality are the four primary reasons that many people turn to trust-centered estate planning. CONTROL A…
DetailsPlanning for a Spouse · Am I required by the laws of my state to leave a portion of my assets to my spouse? The inheritance and succession statutes of…
Details· What states require community property? Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. · What is community property? While the community property laws vary in each…
DetailsWhat is meant by “trustee ownership”? The form of property ownership most rapidly expanding in the estate planning field is that of trustee ownership. By establishing a revocable living trust,…
Details· What is tenancy in common? Tenancy-in-common is ownership of property between two or more people. Each of the owners owns a percentage of the property, called an undivided interest.…
DetailsOwnership of Assets · What does “title” mean in relation to property ownership? Title is the legal concept of ownership. When you take “title” to any piece of property, you…
Details· What is meant by “living probate’? It is possible that, prior to your death, you may become mentally disabled due to disease, stroke, or accident. Legally referred to as…
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