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Archive for December, 2010

December 27th, 2010

What is a By-Pass Trust?

(Estate Planners) - When planning an estate, there are many different trusts to consider, each of them with different benefits and drawbacks for the grantor and the beneficiary. A trust can reduce the amount of money that your heirs will have to share with their least favorite uncle, Uncle Sam. One of the most popular is the by-pass trust, a simple trust that provides a range of long-lasting benefits.

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December 20th, 2010

What is an A/B Trust?

(Estate Planners) - The sole purpose of an A/B trust is to save on death taxes (estate taxes) that are assessed by the Internal Revenue Service when someone dies. This type of trust only works for those that are married when they pass away. The A/B trust can be beneficial to couples and their children or other loved ones in a variety of ways and is a very viable estate planning tool.

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December 13th, 2010

Why You Need a Power of Attorney

(Estate Planners) - If you’re like most folks, you think of a power of attorney (POA) as being someone that is designated to carry out your wishes and stand in your stead when you’re really ill. In actuality, waiting until you are sick or incapacitated to make an important decision like selecting a power of attorney is foolhardy at best – and disastrous at worst.

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December 6th, 2010

Why You Need a Living Will

(Estate Planners) - Most people do not have a living will, but everyone should have one, even if they are young and healthy. A living will is a legal document that outlines your particular wishes in regards to end-of-life decisions, and is your official declaration of whether or not you want to receive life-sustaining treatments, including cardiopulmonary resuscitation and artificial nutrition should you become incapacitated and unable to make your wishes known.

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