The Benefits—and Limits—of a Revocable Living Trust in Estate Planning

A revocable living trust helps avoid probate, ensures privacy, and provides continuity if you’re incapacitated. But it doesn’t protect assets from lawsuits or help with Medicaid eligibility. It also doesn’t reduce taxes. To fill those gaps, consider an umbrella liability policy for asset protection and long-term care insurance for nursing home costs. A trust is a great start—but a complete plan requires more.

What is a Trust?

Introduction One topic that comes up very often during initial meetings with clients is whether or not they have a will or trust set up....

SIX CHOICES THAT HELP EXPLAIN THE NEED FOR A GOOD ESTATE PLAN

Inevitable Estate Planning Certainties We All Do Not Want To Hear: We all will pass away. We cannot take any assets, money, or belongings...

GOODBYE POCO - LESSONS FROM MY SWEET DOG!

Dave Ramsey has a rule at his office. The rule is simple: No gossip! If you’re caught gossiping once, it’s your free warning and pass,...

YOUR GUIDE TO “BENEFICIARIES”

Building wealth can be an important part of financial planning, since it can help you enjoy life and provide for your family. But as the...

WHY HAVING A WILL IS IMPORTANT (AND GETTING ONE MIGHT BE EASIER THAN YOU MAY THINK)

Creating a Will can be really intimidating. It’s one of those things that most people know they should have but it just always sits on...

THE SECURE ACT CHANGES THE WAY PEOPLE INHERIT MONEY

The recently enacted SECURE Act eliminated the ability for a beneficiary to stretch an inheritance over their lifetime, if the...