When it comes to planning your estate, there are many decisions that need to be made that ultimately lead to a number of questions. One such query is that regarding living trusts vs. wills and which is better for an estate plan. Wills speak to one moment in time and that is when you die, […]
Would the Trustee of an Asset Preservation Trust Have A Lot of Responsibilities to Attend to?
A trust has to have a trustee, somebody who is in charge of managing the assets in the trust, and with an Asset Preservation Trust, you can’t be your own trustee. One of the questions we often get during Asset Preservation Planning is, “Will the trustee have a lot of responsibilities to attend to?” Since […]
How An Asset Preservation Trust Protects Your Life Savings From Long-Term Care Costs
An Asset Preservation Trust is a special trust we use in Asset Preservation Planning to protect assets that could be lost to the financially devastating costs of long-term care. Basically, how it works is that ownership of the assets transferred into the trust is no longer considered yours, therefore the assets are protected from any […]
What if I put my life savings into an Asset Preservation Trust and then I need some back later?
Having an Asset Preservation Plan in place will help protect your life savings from the potentially devastating costs of long-term care. As you may know from some of our other videos, the key to the planning is transferring the ownership of assets into a trust that is set up so that legally those assets aren’t considered to […]
Can a Family Member Serve as a Trustee?
If you are setting up an Asset Preservation Trust to protect your life savings from long-term care costs, you will need to have a trustee. Now, the word “trustee” may conjure up a negative image of a sinister character in some people’s minds, however, that just isn’t the case. Snidely Whiplash is not your modern […]