Does a person who has “a small amount of assets” need to have a trust in order to help heirs avoid probate? That was one of the questions posed recently to a Florida newspaper located west of Brevard County.
As a parent, you should follow these estate planning tips
As a parent, you always want what's best for your children. This should lead you to create an estate plan with the future well-being of your children in mind. While there's no way of knowing what will happen down the road, there are steps you can take to put your mind at ease.
Whom should you name as your power of attorney?
Naming a power of attorney is easier said than done, since you have a seemingly endless number of options. While you can name almost anyone you want, you don't want to make a rash decision that could end up negatively impacting you or your loved ones in the future.
Do I need an estate plan if I don’t have children?
Some adults choose to have children; others choose not to. If you are an adult without children, you have the benefit of controlling more of your free time and having more disposable income in your pocket. However, you have additional concerns that do not trouble parents. For example, you might sometimes wonder to whom you will leave your assets after you die.
Will I have to pay my deceased loved one’s debts?
No one wants to think about mortality, especially that of their loved ones. However, death is an inevitable part of life. Sometimes, thinking about it in advance can go a long way toward making the inevitable less difficult.
Estate planning tips: 2019 edition
We’re still in the early days of 2019 with opportunities aplenty to address matters neglected in the past year. Many Brevard County residents understand that the time to address estate planning is now.
What can an irrevocable trust do for you?
There are many estate planning tools available to help individuals preserve their assets and provide for others long after they are gone. In most cases, an estate plan includes some form of trust, which holds assets and protects them from legal challenges and excessive taxation. However, trusts come in many forms, and each type of trust serves a specific purpose. While having some form of trust is typically better than not using a trust at all, it is always important to choose a trust with strengths and features that match your needs and priorities.
