Trusts can play a vital role in estate planning. As they do not pass through probate the beneficiaries of the trust can receive anything in them far faster. If of course, you want them to receive things straight away. How and when a trust gets distributed depends on...
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Trusts
How do trusts bypass the probate process?
Regarding estate planning, trusts stand as powerful tools that offer individuals and families a way to safeguard their assets, streamline inheritance processes and oversee the seamless transfer of wealth from one generation to the next. Trusts, when structured and...
What type of trust is right for your needs?
A trust is a legal document that puts assets in the protection of a trustee. The trustee is then responsible for seeing that the assets are distributed to beneficiaries as instructed by the grantor. Unlike a will, there are many kinds of trusts. Here’s what you...
What are some potential disadvantages of a living trust?
You have probably heard that a living trust offers many benefits. For example, the assets held in the trust typically do not need to pass through the Colorado probate process. Two other benefits include security for you and your loved ones and the flexibility to...
Can you control how adult children use their inheritance?
Are you worried about what your heirs are going to do with the money that you leave them? You’re not the only person who has expressed this concern. Adults often express this worry for a variety of reasons. For example, maybe you feel that your heirs are still young...
3 benefits of a trust over a will
Two common ways of passing on assets to beneficiaries are through a will or a trust. While both options have advantages, a trust offers several unique benefits over a will. It is crucial to have such information when creating your estate plans to ensure you make the...
What advantages does a revocable living trust offer?
The variety of options available to you when you begin the estate planning process can easily overwhelm you. It's difficult to know who to listen to and what is best for you when others are telling you what you need and how to proceed. One thing you may have heard is...
How do you leave assets to an underage heir?
If you have an heir who is still a minor, and you’re doing your estate planning, you may run into some complications. For instance, you may have substantial financial assets that you want to leave to this individual. But it is clear that they are not ready or able to...
How do you choose a trustee for a special needs trust?
Estate planning is a much more complex and challenging process when you have a family member with special needs to consider. Parents who have special needs children and those who serve as a guardian for a vulnerable adult will have more concerns to address in their...
2 questions to ask when setting up a trust
As you get older, it is natural to start thinking about what will happen to your assets when you die. One of the most important estate planning tools you can use to dictate your wishes regarding your assets is a trust. A trust allows you to transfer some of your...