ILIT's Offer Exceptional Estate Tax Planning Benefits

ILIT's are invaluable estate planning tools that may provide exceptional tax saving benefits. These life insurance trusts must be established and operated correctly to ensure that their objectives are attained.

Beneficiary of a Trust

What is a beneficiary of a trust? Describes basic categories of the exercises of the beneficiaries' rights, two main categories of sequential interests of a beneficiary, the two beneficiaries from the trustees perspective. How the beneficiary relates the to the trust contract? Defines bare trust, express trust, tenant for life, remainderman, fixed beneficiaries, discretionary beneficiaries, simple trust, will trust, testamentary trust, inter vivos trust.

Asset protection with Joint Tenancy, Tenancy in Common, Tenancy in Entirety & Community Property

Protecting assets by Joint Tenancy, Tenants in Common, Tenancy in Entirety or Community Property have many disadvantages. Loss of step-up in basis upon the death of the first Tenant; loss of estate tax protection; possible exposure of the assets; Joint Tenancy disinherits all other heirs; possibility of a gift tax consequence; Joint Tenancy supersedes any trust with the loss of all trust benefits.

Debunking Estate Planning Misconceptions

Estate planning conjures up a lot of emotions. And not all of those emotions are positive - after all, planning for your own demise is tough! However, consider this: Planning your estate will not shorten or lengthen your life by a single moment. So why not think about it and do it?

Anna Nicole Smith Dies Without a Will - What's a Will? What's a Trust?

Anna Nicole Smith dies without a will. Without a will and a trust Anna Nicole Smith leaves behind many unsettled legal issues including paternal rights to her baby daughter, unsettled case against her late Husband's estate Howard Marshall II. What's a Will? Why is a Will not enough? What are Trusts? What happens at the death of someone with only a Will?

Living Revocable Trust

What are the differences of a revocable trust (living trust or revocable living trust) and irrevocable trusts? Explains what's a trust, grantor, beneficiary, fiduciary responsibility of a trustee, accountability of the trustee and additional safeguards of assets.

Estate Planning and Trusts

What are estate planning and trusts? What are the differences between federal death (estate) taxes and state probate and death taxes? Explains the relationships of property, insurance, pensions and IRAs and estate taxes.

Medicaid and the Living Trust

Living Trusts are widely advertised in seminars on estate planning. But can they be used if you may have to apply for Medicaid? This article discusses some of the pitfalls.

Why Everyone Needs At Least A Living Trust

We share one thing in common. If you're reading this article you probably will not live to see the end of the 21st Century. The Revocable Living Trust is something most people should have but few actually see that it's done. Here is why everyone needs the Living Trust.

Financial & Estate Planning For the Dual Income Family

In today's world, it is more common than ever to find dual income households. Recent estimates by the Department of Labor find that women comprise around 47 percent of the American workforce. Compare this percentage to 1960 accounts estimating women in the workplace at around 33 percent. Because of the proliferation of working women, special planning is necessary to properly address the issues faced by households where both spouses work.

Top Asset Protection Strategies

Contrary to popular beliefs, asset protection does not mean hiding assets, and is not a trick to evade authority. Asset protection also does not involve deceptive agreements or fraudulent transfers. It is simply smart and safe financial planning. It uses the cunning of business and tools of financial planning to safe guard your assets from being extracted by outsiders who do not have any right to or claim on your hard earned money.

Asset Protection - Why Do You Need It

With your growing financial portfolio and asset, it is imperative that you take steps to protect your assets. A practical solution for creating an additional umbrella of security for your family is to take advantage of asset protection that minimize the risk of losing your assets or being taxed heavily.

Understanding The Benefits Of Forming Trusts

What is a Trust And Who Are The Settlor, Trustee And Beneficiaries? A trust is an institute of a special type of structure capable of holding title of the property-providing benefits to one or more people.