Category: Estate Planning
Trust Planning: Purpose, Trustee Responsibilities and Funding
A trust should be evaluated by its purpose, who will administer it, which property it will hold and how distributions are intended to work. Choosing a name for a document is not the same as implementing a plan. The trust agreement, ownership records and the client’s wider estate arrangements need coordinated review. Illustration accompanying estate-planning…
Estate Planning: Coordinate Family Decisions, Ownership and Legal Documents
Estate planning is a set of decisions about lifetime assistance, family responsibilities and the transfer of property. Begin with the people who may need support, how assets are owned and which documents already exist. A will, trust, beneficiary designation and agency document serve different functions; they should not be treated as interchangeable. Illustration accompanying estate-planning…