The pros and cons of a specific estate plan structure are generally the same for different estate amounts. If you have one hundred dollars or one million dollars, you will receive the same type of benefits or negatives.
A special needs trust must be funded, like any other trust, before it can effectively operate to distribute assets to a named beneficiary. This means that the decedent or some other individual must place assets into the trust before the selected trustee (the “fiduciary”) may distribute those assets from the special needs trust to the named beneficiary.
There are several types of trusts that can be created, however two of the most common trust that we encounter are testamentary trusts and revocable living trusts. An understanding of the similarities and differences between testamentary trusts and revocable living trusts can be essential to your estate plan.
Probate is the general administering of a deceased person’s will or the estate of a deceased person who does not have a will. It is a long court process that
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I’m often asked what’s the difference between a will and a trust. While they both control your property they are very different documents. A will is a document that indicates
