A revocable living trust is an essential aspect of any estate plan. Also known as a living trust, it is a legal entity created to hold personal and family assets. There are two parties involved in a living trust. They are the grantor, or trustmaker, and the trustee. Often, they end up being the same person. A revocable living trust goes through three phases which are outlined here.
Estate planning issues usually have a larger impact on women than men because wives tend to outlive their husbands. Women are often younger than their husbands and have a longer life expectancy. As a result, the burden of estate administration usually falls on women.
A Charitable Remainder Trust (CRT) allows a donor to transfer property to a trust, retaining the right to receive a stream of annual payments for a term chosen by the donor.
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I’m not married and I don’t have any children - do I still need an estate plan? The answer is always YES! If you have any assets at all you need an estate plan.