A living trust often forms a vital piece of many estate plans. Living trusts, also known as revocable living trusts or inter vivos trusts, provide numerous potential benefits. In order to create such a trust, you must make sure that you meet some specific elements as required under the law. You should speak to an expert estate planning attorney if you want to create a trust, but here are some of the important elements. Settlors and Property When you create a revocable living trust, you … [Read more...] about Key Elements in a Living Trust
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Good Estate Plans Need to Change With the Times
Time marches ever on, and anyone with an estate plan has to be able to adjust as the world changes. While you probably know that changes in your life circumstances should require you to review your estate plan, you may also want to make adjustments because of advances in technology or other factors. If it’s been a few years since you addressed your estate plan or took the time to review it, here are two areas you may have missed before that you will want to review now. Your Digital Life The … [Read more...] about Good Estate Plans Need to Change With the Times
Extended Family Living Continues to Rise
According to figures from the US Census Bureau’s American Community Survey, the number of multigenerational households in the country has increased dramatically in recent years. In 2012, there were about 4.3 million households in the country in which more than two generations lived. That number, equivalent to about 5.6% of the population, represents a significant increase from the 2010 levels in which about 4% of American households were multigenerational homes. The number of these households … [Read more...] about Extended Family Living Continues to Rise
Talking to Mom and Dad About Estate Planning – 2 Conversation Starters
Estate planning is, for many people, as pleasant a prospect as washing with a sandpaper sponge. While the natural hesitation when it comes to estate planning is understandable, it can often be a source of stress, especially for adult children of elderly parents. If your parents haven’t begun estate planning, or you believe they need to do more, there are several questions you may want to ask them or issues you may want to talk about to help further their efforts. When did you update your … [Read more...] about Talking to Mom and Dad About Estate Planning – 2 Conversation Starters
The DNR Tattoo: Should You Ink Up?
Tattoos have long been a method of expressing important thoughts and ideas to the world around us. Some tattoos are incredibly intricate portraits of the world, as seen through the eyes of the bearer; other tattoos are simple reproductions of symbols, or a point of view. Chances are, if you can think of it, someone has it tattooed somewhere on his or her body. In the case of an elderly British woman, she chose to have the acronym D.N.R. tattooed upon her chest, which stands for “do not … [Read more...] about The DNR Tattoo: Should You Ink Up?
