Avoid Probate (Avoid Probate – This is a small subchapter on how to avoid probate from my book Protecting Your Financial Future.) Here is how to avoid probate. When your bank account is owned by your trust, i.e., it is in the name of your trust, and
You can have more than $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. For instance, if you have a joint account then each person listed on the account can have $250,000. This is where living revocable trusts fit in. A living revocable trust account at an FDIC insured bank can have more than $250,000 as long as it has more than one beneficiary.
Question: Can multiple items be placed into one trust or should a Trust be created for each item? Answer: You can create multiple trusts. However, usually one trust holds all of a person’s or couple’s items. The trust owns all of your assets (those that require a signature to dispose of), so that the items […]
Absolutely! Your business may be your most valuable asset. Many advisors kind of forget about the business when they are putting a living trust in place for a client. If the business isn’t “owned” by the living trust it will be in the probate estate after you die. Probating a business is really bad. The […]
