Living trusts can be an incredibly useful element of your estate plan, but many people do not understand exactly what a living trust is, how it works and the benefits it can offer. Below are answers to some of the most frequently asked questions we receive about living trusts.
Durable financial power of attorney is a relatively simple means of arranging for another person to manage your finances in the event of your incapacitation. The primary benefit of this estate planning tool is that it allows for continuity for your estate, while preventing any stress and disputes that could otherwise arise among family members about who is best suited to take charge of your money and assets.
It’s a commonly held belief for people who are in their 20s and 30s that estate planning can wait until they are older—or at least until they have children. However, people of all ages stand to benefit from cohesive estate planning. For younger people, it tends to be a much less complicated process, and so there’s little need to put it off.