Estate planning can be daunting. However, understanding a few fundamentals can push you in the right direction. The following are the basics of an estate plan:Will. A will creates a blueprint to transfer your probate assets in a manner consistent with your wishes. In...
You may have heard that there is a chance that the volcano lying underneath Yellowstone National Park may erupt in the near future and cover this area in ash. Then again, it might also not do so for another 1000 years. What does this mean for you? Well, for starters,...
A common theme in estate planning here in lake country involves what to do with the family cabin. Two frequently utilized options are a family cabin in a trust or limited liability company (LLC). Each method, as an estate planning tool, has its pros and cons depending...
When developing an estate plan, I often hear clients say, "I need a trust because I want to avoid that probate thing."Without going into too much detail in this article, "probate" is a process in which heirs are required to apply to the court to transfer title of...
In estate planning lingo, “to trust” has less to do with relying on someone and more to do with preparing an estate. There are many different types of “trusts,” but the most common two you may hear of are a “revocable living trust” and a “testamentary trust.” Both can...
