How Are Trusts Taxed?

From: www.aaepa.com

Trusts can be very useful vehicles to control assets during life and after death. During life, they can be especially helpful to control assets during periods of disability. After death, a trust can provide asset protection, remarriage protection, asset management, and many other benefits which might not be available otherwise.

Generally, trusts are income taxed in two different ways, as “grantor” trusts or “nongrantor” trusts. A grantor…

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Trust vs. Will

A Will is a declaration of your wishes regarding how you want your assets and property distributed upon your death. It can also include instructions about the care of minor children. Typically, a Will is subject to Probate which is a legal process administered by the court in your state. Probate can be an expensive and lengthy process.

A Trust, also known as a Living Trust, sets the terms of your wishes…

Are your beneficiaries up to date?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Naming primary and secondary beneficiaries for life insurance policies, annuities and retirement accounts is one of the easiest and most effective estate planning moves you can make. Here’s why it’s important to make changes as needed to keep these details current.

Marriage, Divorce, Kids and More

Checking your beneficiaries on a regular basis (even annually is enough) can help…

Debt After Death: Why You Should Think About It When Estate Planning

From: blog.epctn.com

If you carry debt, do not assume that your death or incapacity will make it automatically disappear. To the contrary, the money you owe may eat away at the assets you were planning to leave to your heirs or — if you owe a large amount of money — may wipe out your estate completely. Debt comes in…

Estate planning for blended families

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Second marriages and blended families have become increasingly common. Since estate planning can be more complex in these scenarios, it’s important to prepare for a variety of situations through research, planning and by reaching out for help when needed.

Trust in Trusts
A trust requires resources to set up and maintain, but when it comes to

Check In With Your Retirement Plan

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Preparing for retirement is a cornerstone of any financial plan, but a lot can change as you approach your golden years. That’s why trying a “retirement dress rehearsal” well before you stop working can reveal items to be addressed or give you reasons to adjust your expectations.

Double-check your financial details.
Most people’s anxiety about retirement comes…

Should you consider setting up a trust?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

You may think of trusts as luxurious financial vehicles for the elite and wealthy, but the variety and versatility of trusts available offer a number of options to anyone with clear ideas about what they want their hard-earned wealth to do.

Trusts Can Allow Greater Privacy
One of the most common uses of a trust…

Estate Planning as a Gesture of Affection

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

An uncertain future can be a great motivator for putting together a financial plan. Knowing you’re prepared and that your loved ones will be taken care of after you’re gone can provide peace of mind to everyone involved.

While it’s a tough conversation to have, you can’t afford to put it off. In fact, as the boomer…

Regulators say something about living wills, and are relieved that no one really cared

From: finreg.sourcemedia.com

Banking regulators managed to say a little something about living wills yesterday, and no one really cared. American Banker and Reuters offered brief items, probably because there wasn’t much to say beyond the fact that 21 banks have a little more time to turn in their homework….

DIY Estate Planning Has Its Risks

From: wsj.com

Before crafting a last will on your own, here are some issues to keep in mind

Two years ago, Matt Ahrens and his wife were heading out of state without their infant son, and neither had a will. Mr. Ahrens heard a radio ad for an online document company—and downloaded a will from the site.

“For me, the scariest thing was the idea of something happening…