Why own a home in a revocable trust? There is one main reason to consider putting a house in trust: to avoid probate court. Although a living trust can be an effective estate planning technique, it is important to understand the benefits it can and cannot provide. A living trust
Do I need a revocable living trust? Choosing whether to fund a trust with your assets is an important decision in the estate planning process. Since a trust is different from a will, many individuals need both. Here are three main reasons you may want to consider putting your assets
Updated for 2025. A spouse’s death can be an overwhelming and emotional experience. While it’s possible to organize financial documents ahead of time, there’s no way to truly prepare for the death of a spouse. Unfortunately, during the grieving process surviving spouses also need to navigate the complex financial issues
If you’re inheriting a trust fund, you likely have questions about how the distribution payouts to beneficiaries work and the tax implications. While general information about how trust funds work is useful, there are limitations. Trusts can be complex, highly customizable tools, so what applies to one situation may not
Revocable or living trusts play an important role in many estate plans. Married couples utilizing trusts in their estate plan need to consider if it’s best to set up joint or separate living trusts. There are different tradeoffs which may make either a family trust or separate trusts a better
Although many Americans are familiar with the broad concept of a trust, there are numerous misconceptions about what they are, who they’re for, and the benefits they can – and cannot – provide. One of the most common misconceptions about trusts is that they are only a tool for the
What is probate and why should you try to avoid it? Whether an inheritance will go through probate or bypass the process will depend on the type of asset – not whether the decedent had a will. Having a will does not mean assets will avoid probate; a will is a legal record of
Inheriting a home, such as the family home or a vacation home can be emotional. As you begin to sort through the emotional and practical issues, you may initially be left with more questions than answers. As an added complexity, you may have inherited a house with siblings. Varying wishes