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Deciding the best way to leave money to a heir can be complicated. When the choice is between naming someone as a beneficiary of an account or putting the account into a living trust, the trust ...
The old money versus new money distinction generally delineates between individuals or families with inherited wealth and status, versus those who have acquired it more recently through ...
Attorneys routinely receive client funds (commonly referred to as "trust money") to be held in trust for future use. If the amount is large or the funds are to be held for a long period of time, the attorney customarily places these funds in an interest-bearing account for the benefit of the client. However, in the case of amounts that are ...
If a revocable living trust is used as a part of an estate plan, the key to probate avoidance is ensuring that the living trust is "funded" during the lifetime of the person establishing the trust. After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust.
Negative aspects of using a living trust as opposed to a will and probate include upfront legal expenses, the expense of trust administration, and a lack of certain safeguards. The cost of the trust may be 1% of the estate per year versus the one-time probate cost of 1 to 4% for probate, which applies whether or not there is a drafted will ...
Moore emphasizes the dangers of “mindless” spending and recommends prioritizing things that bring you joy and add value to your life. “That $5 latte might represent the only 30-minute break ...
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