The basics of estate planning explained, become acquainted with estate planning definitions such as living trusts, kinds of wills, dying intestate and trustee. Your estate planning questions answered in this article.
Estate Planning terms explained
Court-supervised probate is a costly, time-consuming process. The typical cost to probate an estate is in the range of 3% to 7% of the total estate value. The benefits of establishing a living trust are certainly well worth it-if only to avoid probate.
If you've ever thought about a living trust, it's probably because you hate the idea of going through probate. Living trusts have been heavily marketed on that basis over the past several years and, yes, living trusts certainly do avoid probate. But, there's a whole lot more to living trusts than just that. In fact, avoiding probate is not even one of the top three reasons for a living trust. In my opinion, it's #4. To set the record straight, here are the top 6 reasons why you should have a living trust.
When it comes to estate planning, simple errors can result in enormous hassles. Avoid these common estate planning mistakes
There has been a recent explosion of estate planning seminars as well as online ‘do it yourself estate planning’ kits. Be cautious, the integrity and longevity of such plans may not hold up in a court of law.
Have you considered the future of your business? An alarming study recently revealed that only 30% of all family-owned businesses survive to the next generation. There are several options outlined in this article about estate planning for business owners.