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.
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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.
When you make a mistake with your estate plan, it can be irreversible. If the mistake you made isn’t realized until after you or your loved one passes, it could create a nightmare for the survivors.
Most if not all people should have and can benefit from a comprehensive estate plan. In this article, we will cover some of the common reasons to make sure you have an estate plan in place.
Being named the executor of a will is a big responsibility. It can be overwhelming and confusing at times, especially when that person is also dealing with the grief of losing a loved one.