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What Happens When You Don’t Trust Your Trustee – Part I

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What Happens When You Dont Trust Your Trustee Part I Scaled

Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As expected, the avenues for removal depend upon the trust instrument itself, as well as any statutory remedies available.

Home Sweet Home

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Home sweet home. our home is not just a building; it holds immense emotional and financial significance. Your home is where your family resides, and you feel secure, connected, and comfortable. For younger people, it represents endless possibilities, whereas, for those in their middle age, it’s full of energy and vibrancy. And for those in … Read more

How to Protect Your Assets Through Estate Planning

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The Importance Of Having An Estate Plan

If you want to protect your assets and ensure that they are distributed according to your wishes, estate planning is essential. Here are some key steps you can take to protect your assets through estate planning. First, you should create a comprehensive inventory of your assets. This can include real estate, investments, bank accounts, and … Read more

What You Need to Know About SECURE Act 2.0

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What You Need To Know About Secure Act

IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly. Just when advisors began to get comfortable with the new 10-year rule, the United States Treasury Department promulgated proposed Treasury Regulations early in 2022 adding additional complexity to that rule by requiring annual distributions for a non-EDB of a participant who died after their Required Beginning Date. Once again, the SECURE Act includes additional provisions with which every advisor should be familiar.

As Time Draws Near Planning is Important

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Ideally, we plan well in advance for the end of our lives. It is a good idea to revisit those plans as time draws near. First, a general review of plans is in order. Often, plans have not been reviewed in many years and it is wise to make sure they are still representative of … Read more

The Benefits of Estate Planning for Business Owners

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Assets

As a business owner, you have worked hard to build your business and create a secure financial future for yourself and your loved ones. But have you considered what would happen to your business and your assets if something were to happen to you? Estate planning is an important process that can help protect your … Read more

The Importance of Having an Estate Plan

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The Importance Of Having An Estate Plan

We all know that we should create an Estate Plan, yet so many of us procrastinate in undertaking such an important task. Creating an Estate Plan represents a simple, yet effective way to provide comfort and stability to your family upon your death by ensuring that your assets pass in the way that you want to whom you want. Unfortunately, so many encounter a tragedy or crisis before prioritizing their Estate Plan, sometimes it is too late. As headlines often remind us, even those with significant wealth are not immune to the perils of death without an Estate Plan.

Want Privacy? Use a Trust

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Do you like your nosy neighbors keeping tabs of your business?  Do you want them knowing how much money you left to your kids?  Do you want Aunt Fern knowing that you left money to your favorite uncle but not to her?   If you leave only a Will, it will all be a matter of public record. … Read more

Medicaid Planning Tips for Beginners

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Spouses

Medicaid planning is the process of arranging an individual’s financial and legal affairs in a way that allows them to qualify for Medicaid benefits while preserving as much of their assets as possible. Medicaid is a government program that provides health coverage for individuals with low income or limited resources. In order to qualify for … Read more

Asset Protection Planning in Litigious Times

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Asset protection is becoming an increasingly important issue in our litigious society. All of us have exposure to potential creditors. You may have exposure due to the assets you own. Perhaps you cannot shovel the sidewalk in front of your home and your neighbor slips and breaks a hip. Perhaps you own a rental property … Read more