A comprehensive estate plan will typically include a wide variety of estate planning tools and strategies that help achieve the various inter-related estate planning goals and objectives within the plan. One of those tools is a trust. Although once used almost exclusively by wealthy families as a way to pass down the family wealth without paying taxes on the transfer of wealth, trusts are now found in even the most simple of estate plans. If you plan to include a trust in your estate plan, you will need to appoint a Trustee to administer the trust. A common mistake people [Read more…] The post Trust Administration Questions to Ask Yourself When Appointing a Trustee appeared first on Hedeker Law.
A well designed and thorough estate plan can accomplish a wide range of inter-related estate planning goals and objectives. Of course, to accomplish all of those goals a plan typically must incorporate a number of different estate planning strategies and tools. One of the most common of those tools is a trust. Although trusts have evolved to the point where there is a specialized trust for almost any estate planning objective, all trusts share a few basic elements, including a Trustee. If you recently learned that you were appointed to be the Trustee of a trust, and you have never [Read more…] The post Steps Involved in Vernon Hills Trust Administration appeared first on Hedeker Law.
Creating a comprehensive estate plan may involve the use of a wide variety of estate planning tools and strategies. One of the most popular of those tools is a trust. Creating a trust can help achieve numerous goals, including incapacity planning, asset protection, and protecting a minor’s inheritance. Although trusts can differ in many ways, one common denominator is the need to appoint a Trustee to oversee the administration of the trust. If you were recently informed that you are the Trustee of a trust, you may be feeling a bit intimidated by your new position if you are a [Read more…] The post Can a Trust Attorney Help Me with Trust Administration? appeared first on Hedeker Law.
For some people, philanthropy is part of their everyday life. If you are one of those people, chances are good that you have several charitable causes that are important to you. If so, you may wish to include these charities in your estate plan. Including charitable beneficiaries in your estate plan can be done in several different ways. One of the most popular options is to create a charitable trust. To help you better understand your options, a Lincolnville living trust attorney explains charitable trusts and why they are often the tool of choice for charitable gifting. Your Comprehensive Estate [Read more…] The post Lincolnville Living Trust Attorney Explains Charitable Trusts appeared first on Hedeker Law.
Like most people, when you think about the concept of estate planning you probably think about executing a Last Will and Testament that provides for the distribution of your estate assets when you are gone. While creating a Will that distributes your assets is certainly part of the estate planning process, it is not the entire process for most people. Because a comprehensive estate plan is intended to achieve a wide range of interrelated goals and objectives, most people find the need to include additional tools and strategies in their plan. By far, one of the most popular additions to [Read more…] The post Vernon Hills Living Trust Attorneys Trust Basics appeared first on Hedeker Law.
Your Last Will and Testament will likely serve as the cornerstone of your estate plan; however, if you create a more comprehensive plan, you will undoubtedly include additional estate planning tools and strategies. One of the most common of those estate planning tools is a trust agreement. Trusts have become increasingly popular in recent years due, in large part, to the flexible nature of the trust and the numerous estate planning goals that can be achieved using a trust. If you are contemplating the addition of a trust to your estate plan, be sure to avoid making a common mistake [Read more…] The post Lincolnshire Trust Administration Lawyers Offer Tips for Choosing a Trustee appeared first on Hedeker Law.
Not all that long ago, trusts were used almost exclusively by the wealthy because loopholes in the law allowed a trust to be used to transfer wealth without paying taxes on that transfer. Although those loopholes have long since been closed, trusts are now more popular than ever and are routinely found in the estate plan of the average person. If you were recently notified that you are the Trustee of a trust created by a family member or friend, and you have never acted in the role of Trustee before, you probably do not know what is expected of [Read more…] The post Can Lincolnshire Living Trust Attorneys Help Me Administer a Trust? appeared first on Hedeker Law.