Trusts Archives

Immunity versus liability re this estate planning document

Many Georgia residents include health care directives as part of their estate plans. The estate planning process is easily customized; so, although there are commonly used documents in many types of plans, each person is able to choose what or what not to include to suit individual needs and long-term goals. When it comes to living wills (otherwise known as health care directives) there's some misguided information out there that may lead to confusion regarding hospital staff and potential liability.

A trust can protect your child's inheritance in case of divorce

There are a lot of reasons why you might consider creating a trust for your assets. Perhaps you have a large estate, and you want to prevent tax issues. Maybe you're concerned about the financial habits of a child or grandchild. Sometimes, people want to protect assets for minor children until they are adults. There's also the issue of the high rate of divorce in modern families. A large inheritance could inspire a spouse to file for divorce to obtain some of your assets after you pass.

Trusts: 3 reasons a pet trust Matters

You're aging, and you love your pets. While you may well be alive for as long as your puppy or kitten survives, there's always the chance that you might pass away before he or she does. What happens to your pooch or cat if you can't take care of him or her anymore? Will someone automatically adopt your pet, or should you take precautions?

Understanding the benefits of a living trust

understanding-the-benefits-of-.jpgPlanning your estate is an important step to take for the future. It requires challenging decisions that affect the distribution of assets, the care of loved ones, and other aspects of your life. A living trust can provide many benefits to you and your family. It's used to determine the distribution of assets after you're gone, and there are different types of living trusts that you need to be aware of. The following will help you understand living trust benefits and the options that best suit your needs.

Special needs trusts and choosing a trustee

Georgia parents whose children have special needs may want to consider establishing a special-needs trust for that child. For people who get their healthcare through Medicaid, having more than $1,500 means they will lose their eligibility. A special needs trust is a way to provide for children without triggering the $1,500 limit. It may also ensure that a child remains eligible for benefits such as SSI and that the funds are used only for the person's care. Furthermore, creditors cannot seize assets in a special-needs trust.

Why Trump may not use a blind trust like other presidents

Georgia residents may be aware that President-elect Donald Trump is set to become the wealthiest president in U.S. history. With a portfolio of about 500 companies and business deals in several foreign countries, Trump has a multi-billion dollar empire that is raising a lot of questions about potential conflicts of interest.

Angel investors and estate planning

Georgia investors who are creating an estate plan might look at how they can use trusts and other vehicles to help preserve wealth and teach their family about financial matters. Angel investors might have particular needs when it comes to creating estate plans. For example, since they often do not receive regular statements, they might want to keep careful records so their family can track those investments.

Living trusts, houses and estate planning

Georgia residents who are making estate plans might want to consider creating a living trust that they place their home into. If they have homes in other states, they might want to put those into the trust as well. This will prevent the homes from being tied up in probate in multiple states. The probate process can be lengthy and expensive in some cases while a trust allows funds to pass directly to a beneficiary.

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