Types of Trusts for Estate Planning

A well-devised estate plan guarantees that an individual’s assets are going to be smoothly passed on to their chosen beneficiaries following that individual passing away. Without an estate plan it can lead to family conflict, high tax burdens, and considerable probate costs. Whereas a straightforward will is a vital element of the estate planning process,…

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What is a Special Needs Trust?

Special needs trusts are a legal arrangement and trustee relationship enabling a physically and/or mentally debilitated or constantly ailing individual to receive income without decreasing their qualification for the public assistance disability benefits given by Supplemental Security Income, Social Security, Medicaid, or Medicare. In trustee relationships, an individual or individuals acts on behalf of another…

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