Estate Planning & Probate Blog

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Digital Assets Need To Be Part of Your Estate Planning

What is an Irrevocable Trust?

An irrevocable trust is a separate legal entity, with its own tax identification number, set up by the trust creator (Settlor) to hold assets. Once assets are transferred to an Irrevocable trust, they cannot be taken back, and the terms of the Irrevocable trust generally cannot be changed after the document is signed.

Assets that are transferred to the trust are considered ‘gifts’ to the…

What is a Revocable Trust?

At its most basic level, a Revocable Trust is an agreement that directs the management of the assets owned by the trust during lifetime, in the event of disability, and upon death. During lifetime, the trust creator (we will say ‘you’ or ‘your’ here) will transfer all assets into the name of the revocable trust, or name the trust as beneficiary on most or all accounts. The trust is almost ‘invisible’…

Estate Planning “Living Documents”

When people think of estate planning, they tend to think of Wills and Trusts. However, there are certain documents that everyone should have in place, regardless of estate size. They are:

Power of Attorney – These are for financial transactions during lifetime. If you are unable to act, or if you simply want someone to be able to assist…

Charitable Planning

Learn about the ways you can give to charity that align both with tax planning and legacy planning goals.

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