A living trust is a very popular addition to the average estate plan. In fact, you may be considering the addition of a living trust to your estate plan after listening to friends and/or family tout the benefits of including a trust in your estate plan. A trust certainly can be a beneficial estate planning tool that may help you achieve a wide range of goals. Before deciding if you should incorporate a living trust into your estate plan, however, you should be certain that you understand the advantages and disadvantages of a living trust. What Is a Trust? A [Read more…] The post What Are the Advantages and Disadvantages of a Living Trust? appeared first on Hedeker Law.
If you are fortunate enough to have amassed a decent sized estate over the course of your lifetime, you may plan to pass some, or all, of that estate down to your children and/or other loved ones. The conventional method used to pass down assets is gifting them through a Last Will and Testament. What happens, however, if you are concerned about handing a beneficiary a sizeable inheritance all at one time? The Lincolnshire trust lawyers at Hedeker Law, Ltd. explain how using a revocable living trust allows you to avoid passing down a lump sum inheritance. Why Would a [Read more…] The post Trust Benefits Avoiding a Lump Sum Inheritance appeared first on Hedeker Law.
For most people, the primary goal of an estate plan is to ensure that their assets are passed down to help provide for loved ones upon their death. For those assets to be available to be passed down, however, they must also be protected over the course of your lifetime from a wide variety of threats. In fact, asset protection tools and strategies should be a routine part of any well thought out estate plan. The asset protection lawyers at Hedeker Law, Ltd. explain how you can use an irrevocable living trust to protect the assets that make up your [Read more…] The post How to Use an Irrevocable Living Trust to Protect Assets appeared first on Hedeker Law.
When you create your initial estate plan the focus will likely be on the distribution of your estate assets in the event of your unexpected death. As you mature, and your assets grow, you will likely want to add additional components to your estate plan to reflect the changes in your life and priorities. For example, if you now have a moderate to large estate, you need to start thinking about protecting your estate assets from a variety of potential threats. After all, if you fail to protect your estate assets during your lifetime there won’t be any left to [Read more…] The post How to Use an Irrevocable Living Trust to Protect Assets appeared first on Hedeker Law.
When you contemplate creating an estate plan to distribute your estate assets after you are gone you likely envision using a Last Will and Testament to accomplish that distribution of assets. A Will certainly can be used to distribute your assets; however, there is another popular option. A living trust can also be used as the primary vehicle for distributing your estate. Of course you should consult with your estate planning attorney before deciding which option is better for you; however, learning the benefits of using a living trust to distribute your estate may help you make your ultimate decision. [Read more…] The post Why Choose a Living Trust to Distribute Your Estate? appeared first on Hedeker Law.
A comprehensive estate plan will incorporate numerous estate planning tools and strategies into the overall plan. One of the most popular additions to a well thought out estate plan is a trust. If you choose to include a trust in your estate plan, you will need to decide who to trust with your trust administration. Choosing your Trustee is something you should do with care after giving the matter plenty of thought given the importance of the Trustee to the overall success of your trust. What Type of Trust Are You Creating? At its most basic, a trust is a [Read more…] The post Who Should You Trust with Trust Administration? appeared first on Hedeker Law.
When you contemplate the need for estate planning, you probably think in terms of planning for the distribution of estate assets after your death. Creating a roadmap which can be used to pass down your assets is certainly an important part of estate planning; however, a well thought out and comprehensive estate plan should accomplish much more than just deciding how your assets will be distributed. One important addition to a comprehensive estate plan is incapacity planning. The Lincolnshire living trust lawyers at Hedeker Law, Ltd. explain how incapacity planning fits into your estate plan. You Don’t Have to Be [Read more…] The post How Lincolnshire Living Trust Lawyers Can Help with Incapacity Planning appeared first on Hedeker Law.