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August 2018 Archives

The primary difference between revocable and irrevocable trusts

As Palm Beach residents begin their estate planning, they will more than likely be confronted with numerous decisions to make. If it turns out that one or more trusts would work best for a particular situation, then one other decision will need to be made -- whether to make a trust revocable or irrevocable. The trust creator needs to decide whether it would be more advantageous to be able to change, modify or terminate a trust rather than not be able to do so.

3 types of guardianships to consider

If you have a loved one who is in need of physical assistance, you might be wondering what your best options are. The answer to this depends on the specifics of your situation. An aging parent who needs help planning her or his estate will have different needs than a mentally-disabled adult who requires assistance with managing daily responsibilities. In either case, though, a guardianship may be best.

Trusts are nothing without the right trustee

Many Palm Beach residents go beyond a last will and testament when it comes to providing for their families after death. They also use trusts to pass on assets to loved ones in a more controlled, private and protected manner. Regardless of how carefully such documents are drafted, executed and funded, without the right trustee they may not be worth the paper upon which they are written.

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