Death and taxes. Two things in life we find unavoidable. Although there are ways for decreasing your tax deduction, there are no ways from getting away from the tax man. To put it simple, everything we touch is taxed, from our incomes to the profits made on the sale from stocks and real estate, even…
One major benefit of placing your house in a trust is that it avoids probate following your passing away. Each of your other assets, if you have a will or not, are required to go through the probate process. Probate is a legal process that your estate goes through following your passing away. Throughout this…
A-B trusts are a joint trust created by a married couple for the intent of decreasing estate taxes. Upon the passing of the first spouse, the A-B trust splits into two. It is created with each of the spouses’ putting assets in the trust and designating as the final beneficiary any appropriate individual excluding the…
