Luck Has Nothing to Do with It
My husband’s family is Irish. I feel in my bones that their Irish luck will rub off on me and I will somehow find my pot-of-gold. Or win the lottery. Actively planning to protect your family, however, is much better than just leaving everything to chance. Here are seven steps to take. 1. Update beneficiary […]
Answers to Your Questions on Revocable Living Trusts
Becky Cholewka: Hello everyone! I get a lot of questions about revocable living trusts. There’s a lot of misconceptions out there about what they do, or don’t do, or how we utilize them. For example, when we have a revocable living trust just so you know the trust maker, the person who created the trust, […]
The Benefits of a Revocable Trust
Becky Cholewka: There is so much confusion and misinformation out there about trusts. Today, I want to give you just a little breakdown of why revocable trusts have certain benefits because there’s a lot of people out there that say, “Oh, you don’t need a trust anymore just based on our tax laws. Well, that’s absolutely […]
The difference between simple and typical documents
Becky Cholewka: One of the things I hear all the time, probably about 3-4 times a week in my office is “Becky, you know what, I’m simple. I just need simple documents.” What I really think people are trying to tell me is that they are “typical”. Maybe they have a checking account, and a […]
The Difference Between Living Probate and Death Probate?
Becky Cholewka: People often hear the word probate, and it’s kind of a scary thing for a lot of families to go through. What probate really means is, it’s a court process when the court needs to get involved with distributing assets when you die. That’s what we call death probate. There’s also something called […]
Recognizing the Importance of Living Wills
A living will is a type of advance directive delineating your preferences for end-of-life care in the event you become incapable of making your wishes known. Age does not dictate these crises; they can happen at any time. For anyone over the age of 18, advance directives ensure you receive the level of care […]
Funding Your Trust
Do you have an “empty” Trust? A Revocable Living Trust is the single most effective estate and disability planning tool. About 20% of Americans have invested in creating this valuable planning document and yet many of those do not follow through with the next important step and “fund” their trust. A trust is like an […]
The ABC’s of RLT’s
A Revocable Living Trust (RLT) is an estate planning tool that A) distributes assets outside of probate, B) provides for incapacity planning for the trustmaker, and C) provides asset protection for beneficiaries. A RLT is created by a trustmaker (also called grantor). The trustmaker chooses a trustee and successor trustees to manage and distribute property […]
Revocable Living Trust
If you have assets properly funded into a revocable living trust, you and your successor trustees takes care of the management and investment of the trust assets. This means you, as the current trustee; your successor trustee if you are deemed mentally incapacitated; or your administrative trustee after you die; have legal authority to work […]
What You Should Know About A Living Trust
When passing on your estate to your heirs, a will or other estate planning tools can be used. A revocable living trust is one of best choices. A story on aarp.org says the revocable living trust is becoming very popular, particularly among baby boomers. This kind of a trust is a way to avoid probate […]
