Abatement
AbatementThe term “abatement” means “removal.” In the context of property tax, abatement refers to an agreement between a taxing agency and a taxpayer in which…
Category: Articles
Spousal Lifetime Access Trusts
A spousal lifetime access trust has many advantages that make it a great estate planning tool. With this trust, IRA assets can be used to benefit the …
The Value of Three Important Trusts
The primary tool in the estate planner's toolbox is the trust. A legal construct, a trust holds personal assets for the benefit of family members lon…
Introduction to Estate Planning
The objective of estate planning is to efficiently transfer assets to predetermined heirs when the asset owner dies. This article will define the ter…
The Value Proposition and Mechanics of a Spousal Protection Trust
In old age, high unreimbursed medical care costs, especially those for long-term care, threatens the retirement wealth of many. You do not know if you…
How to Choose a Trustee for Your Estate
A trustee is a person or institution tasked with holding and managing property on behalf of a beneficiary. When setting up a trust, it's important to …
What is a Trust?
The trust is the primary tool used to build asset protection and estate transfer plans. A legal construct dating back centuries and well-established …
What are the next steps when you have been nominated as a Trustee?
Most people have little experience dealing with what happens after their loved one dies and they have been named as the successor Trustee who will be in charge…
How to settle an estate
After an individual’s death, his or her assets will be gathered, business affairs settled, debts paid, necessary tax returns filed, and assets distributed as the…
Steps to Establish a Spousal Protection Trust, i.e., Supplemental Needs Trust
The Spousal Protection Trust can be found in the deceased spouse’s Last Will and Testament. The Spousal Protection Trust must be established in a probate. …