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Apr 12, 2023 · Key Takeaways. An estate plan can help ensure your assets are distributed according to your wishes after you die. Recording how you want your estate to be distributed may help prevent legal issues for your heirs. Donating assets can benefit charities while potentially reducing the size of your estate and future estate tax liability.
- The Basics of Trust
- Choosing A Trustee
- Trusts, The Advantages
- Securing Your Legacy
A “trust fund” is less a financial account than a contract to manage the investment and/or distribution of assets under that contract. Every trust has three components: 1. Grantor: The person who transfers assets into the trust. 2. Beneficiary: Any person(s) or institution(s) receiving assets or money from the trust. 3. Trustee: The individual or c...
Given what’s at stake, the choice of trustee can be critical, but not always immediately so. For a revocable trust, for example, you can simply name yourself and/or your spouse as the current trustee(s). When you are not around to serve as trustee, however, you may want to consider an experienced professional or corporate trustee. Why? Because an i...
Some of the advantage of establishing a trust include: Privacy: A conventional Last Will and Testament and its contents become a public record upon death if probate is required. However, assets held in trust typically remain confidential. Creditor protection:As an independent entity, an irrevocable trust may protect the trust assets from creditor c...
Building, protecting and passing on a legacy involves much more than investing wisely. It requires careful analysis of your objectives, intelligent structuring of your assets, and integrated, strategic planning and implementation. A trust can be a valuable tool for ensuring continuity in achieving the financial objectives you envision for your fami...
The Wealth and Estate Planning Strategists look at all aspects of an individual’s estate to understand the potential income tax and estate planning attributes of the vehicles. The goal is for the client and his or her investment professionals to make more informed investment decisions looking at
PREPARING FOR YOUR MEETING WITH AN ESTATE PLANNING ATTORNEY MORGAN STANLEY | 2023 What a Will Does and Doesn’t Do Your Will determines the disposition of the property owned or titled in your name at the time of your death. For example, your Will enables you to: • Provide for your family’s future financial needs
Property passing by Will is called “probate property” and generally includes all property you owned individually or as tenant in common and your share of any community property. Probate is the judicial
When a real estate investor wants to sell one property and buy another, the primary benefit of doing so through a 1031 exchange is the ability to defer capital gains taxes. Thus, the higher the capital gains bill that an investor faces, the more they would potentially gain .
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Nov 2, 2023 · If your mother or father set up a living trust or certain other trusts and transferred all of their assets to that trust, you may be able to avoid probate—the court process of proving the Will’s legitimacy and then dispersing the estate’s assets according to the terms spelled out in the Will.
