Your loved ones are typically the No. 1 priority in your life, and that isn’t going to change. The best way to make sure they are taken care of after you pass is to establish an estate plan while you are still of sound mind. Here are the top 10 advantages of creating an estate plan: It provides for your immediate family. An estate plan will provide enough money for your surviving spouse to continue to care for the family. If both you and your spouse pass, an estate plan will name appointed guardians to care for your children. It…
Taking care of your family has always been the No. 1 priority in your life, and that isn’t going to change. The best way to make sure they are taken care of after you pass is to establish an estate plan while you are still of sound mind. Here are the top 10 advantages of creating an estate plan: Provide for your immediate family. The estate plan will provide enough money for your surviving spouse to continue to care for the family. If both you and your spouse pass, an estate plan will name appointed guardians to care for your…
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At a round table discussion with our team, Henry Hollingdrake: representing; ARM Trustees Limited, stated that the chances of wealth being efficiently transferred successfully to the next generation without incurring liabilities and unnecessary risk combined with the ability to further invest free from any restraints and excessive taxation are more complicated now than ever before. He buttressed that this is ironic given today’s world offers a lot more accessible tools for transfer and preservation of wealth. Tools like estate planning, wills and relevant estate planning vehicles such as Trusts and Foundations for example. In breaking down this claim, he further…
A trust fund is a legal entity established for the purpose of holding assets for the benefit of specific people, or even for an organization. Children are frequent beneficiaries of trust funds because trust funds can safeguard your assets and make sure they are used for your children’s stewardship. How can a trust fund accomplish this? KEY TAKEAWAYS Setting up a trust fund for your children is not necessarily just for wealthy families. Children are often beneficiaries of trust funds by parents or grandparents who want to pass along their assets. A will can be challenged by third-parties making it…
