Category: Living Trust

The Basics of Setting Up a Trust for Estate Planning

A trust is a relationship in which one person's assets are held inside for the intention of passing on to specific beneficiaries. One of the primary reasons that people choose to use a trust is because the assets no longer belong to a grantor after they have been transferred into the trust. You can also[...]

Major Wealth Transition Expected to Occur in Next Few Decades

An inter-generational transfer of wealth can be extremely complicated and it can be risky for everyone involved. Without proper planning, passing on a large amount of wealth could generate tax and other financial consequences for those receiving the benefits and those passing them on. It is expected that in the next forty years, nearly $32[...]

Five Things You Need to Know About Living Trusts

A living trust may also be referred to as a revocable trust. This means that you can cancel it or change it and update it over the course of your lifetime. For example, you may wish to change the beneficiaries or the trustees as your life goes on. It is also effective during your lifetime,[...]

What Is an Irrevocable Life Insurance Trust? Do I Really Need One?

Plenty of estate planning guidance relies on avoiding taxes, and while this is a worthwhile goal, life insurance can be an important part of your estate planning options. One of the most popular tools to handle this is known as an irrevocable life insurance trust. When you select a trust to hold the title to[...]

Living Trust Versus a Will: Which One is Right for Me?

If you're just getting started with your New Jersey estate planning process, one of the most common questions you may encounter is whether or not you should have a living trust or a will. Both of these tools are very important for your estate planning portfolio. [caption id="attachment_5302" align="alignright" width="370"] Estate planning documents in a[...]

Protect Yourself from the Most Overlooked Aspect of Estate Planning

There are many individuals who understand the basic benefits of estate planning, but they fail to realize that leaving their beneficiary designations the same from their initial estate planning meeting can be devastating. This is because there are several assets that fall outside of management by a living trust or a will. [caption id="attachment_5248" align="alignright"[...]

Should I List My Children on My Titled Assets?

While it seems like a simple solution to deal with your assets in the event that you pass away or become incapacitated, it can be a mistake to add children to the title of your assets. While the basic idea is simple, it involves giving your children the title so that they are eligible to[...]

Living Trusts Are All the Rage. Do You Need One?

A Huffington Post reader recently wrote in to the online newspaper and asked whether she needs a living trust — after all, she said, her friends are all getting one! Well, color us surprised! A reader asking a major publication to think about estate planning? Usually it’s the other way around! Kudos to her! HuffPo’s answer[...]

How Many Americans Have an Estate Plan?

We all know we need one, but how many of us follow through? Not enough, that’s for sure. Estate planning is one of procrastination’s favorite victims. Americans continue to neglect their end-of-life preparations, despite growing awareness of how unwise that can be. Sickness and death aren’t the most pleasant topics under the sun, after all.[...]

Estate and Inheritance Taxes in New Jersey

For those looking to avoid estate and inheritance taxes, New Jersey is currently not the ideal state for an individual to spend his or her last days. Additionally, the effects of unpaid estate and inheritance taxes could linger long after the owner’s death. New Jersey is one of only two states that impose an estate[...]

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