I’m usually not a big proponent of procrastination. The longer one takes to act, the more difficult the decision usually becomes. Unless you’ve just lost a spouse or significant other. When that happens, there are many fears and concerns. Will there be enough income to pay all the bills? Should I put the house on […]
Category Archives: Trust Administration
When you have a revocable trust, does that always mean that your estate will avoid the probate process when you die? You may be surprised to learn that the answer is “No.” Why is that? First, let’s review what the probate process is. Many people think that “probate” means “taxes.” Probate is not a tax. […]
“Stan” created a trust that first distributed the first $2 million to his wife, “Wendy” before making $500,000 bequests to each of his two daughters, Doris and Diane. When Stan created his trust, he considered the bequest to his wife to be enough for her to live off of the rest of her life, also […]
When a loved one dies, the last thing family members want to do is field calls from debt collectors. If you are the personal representative (executor) of the estate or trustee of your love one’s revocable trust, chances are you will have to deal with your loved one’s debts and creditors. But is it your […]
There’s much confusion for family members when a loved one dies with a revocable trust. Often they believe that the successor trustee can simply wrap things up and distribute the trust assets right away. That’s not the case. When all or some part of the decedent’s assets are held in a revocable trust at the […]
There’s much confusion for family members when a loved one dies with a revocable trust. Often they believe that the successor trustee can simply wrap things up and distribute the trust assets right away. That’s not the case. When all or some part of the decedent’s assets are held in a revocable trust at the […]