We’ve all heard the expression, “Failing to Plan is Planning to Fail” and naturally this applies to your estate planning. But what is estate planning and what does it mean to have an estate plan? What is Estate Planning? Defining what an “estate” is will be the best place to start when focusing on what […] Read more
Estate planning
What Is the Trustee of a Trust? What Are His Or Her Duties? Who Should I Consider When Deciding Who Will Serve as the Trustee of My Trust? What Is a Trustee and a Successor Trustee? A trust is basically a way to organize and direct your estate plan and a trust may be created as […] Read more
It has been our experience here at I&E that most folks are aware that Living Trusts are a powerful estate planning tool. But the problem is that for most, this may be as far as they’ve gotten towards actually moving forward and beginning the process of creating one. Which is why…. One of the first […] Read more
Defining Last Will and Testament A last will and testament is a legal document that expresses the desires of a decedent (someone who has died) as to what will happen to his or her property and assets upon his or her death. In order for a will to be legally valid it must spell out […] Read more
How To Create a Living Trust A revocable living trust allows you to set up a plan that protects your estate both in life and in death. In life, the living trust allows your trustee to take charge of your estate if you are diagnosed as incapacitated. In death, your living trust allows your chosen […] Read more
What Is a Testamentary Trust? A testamentary trust is an estate planning device which creates a trust pursuant to a person’s will upon that person’s death. The testamentary trust does not come into being until the grantor’s death, when a trust is created to hold some or all of the decedent’s assets and property, however […] Read more
What Is a Pour Over Will? A pour over will is a type of estate planning tool that involves both an existing trust as well as a regular last will and testament. The mechanics of the process with a pour over will are that the person’s assets and property are placed into an already existing […] Read more
Why Do I Even Need a Will? Most surveys find that more than half of American adults do not have a written will. Wills are something that everyone is always told they need, but very few people actually understand why it is so important to have a valid will. (1) At its most basic level, […] Read more
What is a Family Trust? The term “family trust” doesn’t refer to any single, specific type of trust, so it can’t be precisely defined in a technical or legal sense. Instead, “family trust” essentially means a trust in which the beneficiary is a member of the grantor’s family. Now, practically speaking, when most people say […] Read more
Trust Beneficiary A trust beneficiary is the person, or persons, for whom a trust is established. In some cases, the grantor who creates the trust is also trustee of the trust, either alone or with others, managing the trust on behalf of the beneficiary or beneficiaries. While the grantor, or settlor, who creates the trust […] Read more
