When it comes to understanding the complexities of estate planning, having a thorough understanding of wills and trusts can make all the difference. Whether you are looking to ensure your assets are managed appropriately upon death or want to identify ways to avoid probate administration, learning more about wills and trusts is essential. In this [...]
The estate planning process ensures the willing preservation and distribution of your assets. Life insurance assists in providing funds to finance estate taxes. It also offers wealth protective benefits by providing an effective way to transfer wealth to your beneficiaries. Depending on your life stage, age, health, wealth, lifestyle, and other factors, it follows a [...]
One confusing aspect of estate planning is the numerous myths about the co-ownership of bank accounts. The different types of bank accounts are often confused with the standard forms of property co-ownership. This article discusses some of the myths about the co-ownership of bank accounts. A Bank Account Is a Contract With the Bank There [...]
The easiest way to make sure that a person's property is distributed after his death in keeping with his wishes is for him to prepare a will. A will is a legal document that explains where a person wants or does not want his property to go after his death. A will becomes effective upon [...]
TOD or transfer on death registration of securities allows an investor to arrange for transfer of securities upon the investor's death without the necessity of having the securities go through probate. The executor or administrator of an estate does not have to take any action regarding specific securities that have TOD registration or even entire [...]
A trust is simply an alternate way to own assets. If you created a trust, you would be the Grantor of the trust. You would typically also be the Trustee of the trust. As the Trustee, you would manage the assets titled in the name of the trust according to the terms of the trust [...]
