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Trust is a powerful asset protection tool

The Trusts, Estates, and Probate Practice Group – Areas of Expertise

  • Preparation of estate and tax planning and related documents that include Wills, Trust agreements, Living wills,  Health care proxies and Powers of Attorney
  • Asset and creditor protection planning and advice
  • Documents relating to charitable trusts and foundations
  • Probate, Administration and related matters
  • Medicaid planning, guardianships, and special needs planning
  • All aspects of estate and trust administration
  • Preparation and filing of estate, gift and fiduciary income tax returns
  • Advice to persons and entities in the United States and abroad

ALL ABOUT THE LIVING TRUST

What is it?

Choosing the Trustee of your Living Trust

1. Naming children

2. Consider using a professional.

3. Power of removal

Funding the Trust

The Living Trust is for your benefit

  1. You own the assets in the Living Trust.
  2. You are the manager of the assets in the Living Trust.
  3. You can do whatever you want with the assets in the Living Trust.
  1. You own the assets in the Living Trust.
  2. You are the manager of the assets in the Living Trust.
  3. You can do whatever you want with the assets in the Living Trust.
  1. Protect them;
  2. Preserve them;
  3. Ultimately distribute them to the person(s) you want them to go to.

Asset Protection

Avoid Probate

Death tax planning

What kind of Trusts are there?

ESTATE PLANNING FOR FAMILIES WITH YOUNG CHILDREN

Incorrect Assumptions that Cause Harm

Do Not Give Up Control

The Probate Process

The Best Way to Provide For Your Family

Appointing a Guardian For Your Children

The Benefits of a Living Trust

A Well Thought Out Estate Plan is Critical

TRANSFERRING THE HOME TO A LIVING TRUST

Transferring your home to your child

  1. Outright gift
  2. Gift with a reserved life estate
  3. Gifting by trust

Outright Gift

Life Estate

Trust

How to properly leave an inheritance of your house

WHEN IS IT TIME TO UPDATE YOUR ESTATE PLAN?

Essential Estate Planning documents

Five Essential Steps for Estate Planning

Make sure your wishes are met

Questions & Answers

What is an Estate?
What does it mean to probate a will?
What is the difference between administration and probate of the estate?
How long does probate take?
What is a Last Will and Testament?
What if a decedent does not leave a will?
What does an Executor of an Estate do?
What is a Trust?
What is the Living Trust?
What is a Revocable Trust
What is Irrevocable Trust?
Should I have a Living Trust?
What are the advantages of using Living Trusts?

Definitions

TRUSTS
SPECIAL NEEDS TRUSTS
ADVANCED DIRECTIVES
HEALTH CARE PROXY (HCP)
POWER OF ATTORNEY
WILL

Forms

“Action is the foundational key to all success” – Pablo Picasso

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