Understanding Trusts and Their Importance in Estate Planning
Debunking Common Myths About Trusts
Key Elements of Trusts: Control, Accessibility, and Protection
Grantors, Trustees, and Successor Trustees
Trusts for Different Asset Values and Life Stages
Accessing and Spending Assets in a Trust
Considerations for Irrevocable Medicaid Trusts
Can I access assets in a trust? A properly prepared trust takes your lifestyle and spending into account. Certain types of trusts are more flexible than others, and an estate planning attorney will be able to make an appropriate recommendation.
For instance, if you have an Irrevocable Medicaid Trust, you will be restricted from taking the principal asset back directly. The assets in this type of trust can be used to fund costs and expenses of real property, including mortgage payments, taxes, furnace and roof repairs. An IMT needs to be set up with enough assets outside of it, so you can have an active retirement and enjoy your life. Assets outside of the trust are your spendable money.
Protecting Assets from Unauthorized Access
Grantor Control and Beneficiary Restrictions
Customizing Trusts to Suit Individual Family Needs
Working with an Estate Planning Attorney
Estate Planning Legacy Planner
Everyday, we work with people who have lost someone they care about. There is so much these folks have to organize and manage. This planner organizes the information they will most need, in our experience, saving so much time and unnecessary cost. Besides organizing your information, it's so important to have a good estate plan that will keep your family out of court and conflict.
Please use the button below to receive a free copy of our Estate Planning Legacy Planner, an organization tool essential to any estate plan designed to help your loved ones take care of you and handle your affairs.