What is stopping you from planning your future? One big misunderstandings is that creating a trust is only a way to distribute your assets. A trust will also create a peace of mind for you and your loved ones. It will give you the power to decide how to distribute your stuff in addition to who will be receiving it. More importantly, making this plan will inspire you to create a legacy and fulfill it. This informative article lists common myths about Estate Planning then debunks each one of them with important and accurate information.
In the past, trusts were made with little room for adjustment by the beneficiaries. Nowadays, trusts can be drafted to be quite flexible because no one knows what the future holds. There are three main ways to change the outcome of a trust. The first is giving the trustee the power to distribute a portion of your assets, although this is limited, it gives them room to adjust. The second is using Trust Protectors which is giving someone the power to stop distribution to the beneficiaries. Lastly, modifying a trust by going to court. This article examines several ways you can add flexibility in detail which will help increase the usefulness of your trust.
More than half Americans don’t have any type of Estate Plan. Many people who don’t have a trust understand the benefits but don’t consider the consequences until it’s far too late. If parents pass away without a plan, the state dictates who gets their property and makes decisions for them. Regardless of who you find ideal to manage your assets, with our state’s intestacy laws, estates and belongings already have a predetermined destination. Read on to find out Marcelle’s heart-breaking story: