As an estate planner, I am always advising my clients about the benefits of using a revocable living trusts. A trust can keep your loved ones out of the probate court when you die, and provides tremendous asset protection for your beneficiaries, and allows you to keep all of your personal family affairs private. But one aspect of a trust that is often overlooked is that it is a very effective way to manage your assets even when you can’t. Transferred to the Trustees Once a trust is executed, … [Read more...]

There is a myth out there about trusts and estate planning that I would like to address today. I call it the myth of the magic book. For those of you who have taken the step to create a trust, there is a common misconception that the trust is a magic document that will take care of you and your family when you pass away. Once the estate plan is done, that’s it, job finished, nothing else needs to be done. Unfortunately, nothing is farther from the truth. Three Things in Flux The truth is … [Read more...]