Who Should I Pick to Be Successor Trustee?

Who should I pick to be successor trustee? When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job. Role of Successor Trustee If you become incapacitated, your successor trustee will step into your shoes and take full control of your trust assets on your behalf. This means he or she will have full authority to make financial decisions — including selling or refinancing trust assets. In fact, as long as the act does not [...]

By |2021-09-21T18:23:08+00:00July 16th, 2018|Categories: Estate Planning|Tags: , , |0 Comments

How a Living Trust Helps Your Family

How A Living Trust Helps Your Family There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning also lets you dictate how your assets will pass on to future generations after your death. Avoiding Probate One of the primary reasons for creating an estate plan is to avoid probate. Unlike a will, a fully funded living trust will avoid probate, typically a lengthy and costly court-supervised process. Probate includes locating [...]

By |2021-09-21T19:17:01+00:00July 16th, 2018|Categories: Estate Planning|Tags: , |0 Comments
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