Estate planning is crucial to leaving your beneficiaries with your possessions as you intend. However, life insurance beneficiaries can conflict with the terms in your will if you arenât thorough. Your life insurance beneficiary designation usually supersedes your will. So ⦠Continue reading â
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Revocable trusts, otherwise known as âliving trusts,â do not protect your assets from creditors. In fact, they are subject to collections actions and lawsuits, and they are included when third parties evaluate your personal assets. Weâll discuss how it works. ⦠Continue reading â
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If you have a residence you would like to pass onto loved ones after your death, and youâre worried about your home going into probate, you may want to put your home in a property trust. If that is something ⦠Continue reading â
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Adding an annuity to your financial plan is something you might consider if youâre hoping to generate additional streams of income for retirement. Annuities are contracts that allow you to exchange a current premium for future payments. If youâre not well-versed ⦠Continue reading â
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Part of planning for the future involves getting your estate in order, and determining who you want your assets to pass to when you die. If you have real estate property, and want it to transfer to loved ones without passing ⦠Continue reading â
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After a grantor passes away, becoming the trustee can be daunting, especially if youâre responsible for distributing property. Houses are among the most valuable assets in a family for financial and sentimental reasons. Therefore, itâs critical to understand how to ⦠Continue reading â
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When you die, a section of law known as estate and probate law governs how your assets are distributed. Someone who dies (known as the âdecedentâ) with a legitimate will has set up what is known as a testate inheritance. This ⦠Continue reading â
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Intellectual property and intangible assets used to be niche fields. For most people, pretty much everything they owned could be held, sorted and doled out by their estate lawyer. Today thatâs far less true. From e-mail and social media accounts ⦠Continue reading â
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If you want to end a trust, the process depends on the nature of the entity. A revocable trust can be ended relatively easily, in just three steps. The trustâs founder and owner can typically dissolve a revocable trust at ⦠Continue reading â
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When trusts are used as estate planning tools, financial institutions such as banks and brokerages may require written documentation of the trustâs existence before transferring assets into a trust or naming it as a beneficiary. However, they donât need to ⦠Continue reading â
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