heirs Archives - About Estate Planning

Introduction to Self Directed IRAs

speakeasy — Wed, 18 Dec 2013 09:45:58 +0000

Self directed IRAs (SDIRA) have been around since the early 1970s. In spite of their history, they haven’t been all the rage until more recently thanks to media attention. The biggest press was on former Republican candidate Mitt Romney’s SDIRA. It shouldn’t be believed that only the most wealthy can… Read More

The post Introduction to Self Directed IRAs appeared first on About Estate Planning.

“I thought a trust avoided probate!”

speakeasy — Fri, 13 Dec 2013 09:50:42 +0000

This question usually gets asked by the family after a loved one has died and they are told they have to go through probate. How did this happen? Yes, one of the benefits of a revocable trust is avoiding probate. The explanation everyone has heard is because the assets are… Read More

The post “I thought a trust avoided probate!” appeared first on About Estate Planning.

Advantages vs. Disadvantages of a Revocable Trust

speakeasy — Wed, 13 Nov 2013 10:13:56 +0000

Advantages of a Revocable Living Trust Avoidance of probate. In particular, a revocable living trust can avoid expensive multiple probate proceedings when you own real estate in several different states, as well as the publication of the otherwise private financial details of your estate. Avoidance of conservatorship. A revocable trust can avoid… Read More

The post Advantages vs. Disadvantages of a Revocable Trust appeared first on About Estate Planning.

How Much Does the Government Take When you Die?

speakeasy — Wed, 06 Nov 2013 10:14:16 +0000

This question gets asked a lot. Sometimes it is asked if the Feds or Arizona tax you when you die? Sometimes it is asked if the State gets part of your estate when you die? Mostly it is thought of in terms of probate whether you have a Last Will… Read More

The post How Much Does the Government Take When you Die? appeared first on About Estate Planning.

Trends in Living Trusts Part II

speakeasy — Thu, 24 Oct 2013 10:33:12 +0000

Another trend in Living Trusts, or better said, Estate Planning, are IRA Qualified Trusts. Very often a individual does not want to leave a large IRA to their children or other heirs. The concern is they will cash it in and pay the large tax bill that will surely come when the IRA is… Read More

The post Trends in Living Trusts Part II appeared first on About Estate Planning.

If I have a Will does it means I will avoid Probate?

speakeasy — Thu, 12 Sep 2013 10:39:44 +0000

No, a Will by its very nature implies Probate. Probate is a procedure to administer the estate of a decedent. Even if you do not have a Will, your estate will be administered according to the laws of your home state. This procedure for estates that do not have a… Read More

The post If I have a Will does it means I will avoid Probate? appeared first on About Estate Planning.

Benefits of receiving inheritance in trust over outright distribution

speakeasy — Fri, 19 Jul 2013 10:52:37 +0000

Leaving an inheritance to a beneficiary outright makes the money subject to the person’s creditors, divorcing spouses and of course their own lack of maturity with the funds. By leaving the inheritance in trust, these concerns can be addressed. While the funds for this beneficiary are held in trust for… Read More

The post Benefits of receiving inheritance in trust over outright distribution appeared first on About Estate Planning.