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Estate Planning with Trusts

4 Reasons Why a Living Trust is Preferred over a Will

Posted on: June 26th, 2014
Many consumers and professionals now prefer an estate plan that uses a revocable living trust over a will as the primary estate planning document. Here are four reasons why:...

Can You Trust Your Trust? Why an Online Will or Trust Could Be the Dumbest Mistake

Posted on: September 26th, 2012
In this article is a discussion of the hidden dangers of consumers using online legal forms, often referred to as “do it yourself (DIY) wills and trusts.” Hiersekorn notes at the end of his article that “You only get to use an estate plan once. If you screw it up, you’ll never know, but your family will.” ...

Romney Tax Returns Show Strategy for Moving Money to Kids

Posted on: August 29th, 2012
The couple created trusts as early as 1995, when Romney was building wealth as chief executive officer of Bain Capital LLC. They packed one for their children with investments that stood to appreciate and set up another for charity that provides a tax deduction and income. The candidate’s retirement account, valued at as much as $87.4 million, may benefit his heirs for decades. “It’s beneficial for your kids and grandkids to push the money downstream,” said David Scott Sloan, chairman of the national private wealth services estate-planning practice at the law firm Holland & Knight LLP in Boston. “The Romneys appear to be doing things that are similar to what other high-net-worth families do.” ...

Blended Families Underscore the Need for Estate Planning

Posted on: June 27th, 2012
Anyone with children or modest assets should seriously consider some minimal estate planning, but the increasing number of blended families underscores the need for proper estate planning. Blended families can involve children from a prior marriage as well as joint children, sometimes joking referred to as “his, hers and theirs.” And blended families involve both younger and older couples, and nearly everyone in between. When the new spouse is significantly younger, this sometimes means that the older spouse’s children are close in age to the younger. These relationships can cause more than friction between the step-parent and step-children. ...
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