The Trust Protector: Your Guardian Angel
Fri 21 Jan, by FritzLaw on Estate Planning, Probate
What Is a Trust Protector? Traditionally, the three roles that must be filled when setting up a trust are the settlor (also called a grantor, trustor, or trustmaker), the trustee, and the beneficiary. All three roles are necessary to create a trust that functions properly. Although it is relatively common to use trust protectors in foreign asset protection trusts, a trust protector is a fairly new role in trusts drafted in the United States for …
Estate Planning As A Powerful Exercise In Optimism
Fri 14 Jan, by FritzLaw on Estate Planning, Probate
Many scientific studies have established that there is a wide range of benefits flowing from a positive attitude and positive thinking. At a time when many are focused on worst-case scenarios and gloomy predictions, you can resist the pull of negativity and embrace the beneficial results of positivity. This is not just an attempt to make yourself feel better in spite of reality, but rather to take full advantage of the proven benefits of positivity. …
Is Your Estate Plan Unfinished?
Thu 13 Jan, by FritzLaw on Estate Planning
For most people, thinking about one’s own mortality is unpleasant and low on the list of priorities. While you may objectively recognize the need to plan for your future – and the future of your loved ones after you’re gone – it can be hard to summon the motivation to actually create a will or trust. If you’ve made an effort to begin the process but haven’t finalized the details, consider this article the sign …
Why Your Heirs or Beneficiaries May Receive a Smaller Inheritance Than You Thought
Fri 7 Jan, by FritzLaw on Estate Planning, Probate
Although it is rare for anyone to look forward to the passing of a loved one, many people cannot help wondering about a future inheritance. Often when a person dies and leaves money or property to heirs or beneficiaries, the first thing the heirs or beneficiaries want to know is the overall value of the estate. If the executor or the trustee (the person or entity in charge of handling the final affairs of a …
Having a Conversation With Your Family About Their Estate Plan
Fri 17 Dec, by FritzLaw on Estate Planning, Probate
According to a 2019 survey carried out by Caring.com, 57% of adults in the United States have not prepared any estate planning documents such as a will or trust despite the fact that 76% viewed them as important. Many of the respondents said this was due to procrastination, while many others mistakenly believed that it was not necessary because they did not have many assets. Estate Planning Awareness Week is a great opportunity not only …