Will an asset protection trust protect your assets from creditors, lawsuits, or other financial risks? If you're considering an asset protection trust or want to learn more about how it can fit into your estate plan, this article will guide you to the next step.
02/19/24 • by: The Law Office of John A. Laine, P.C.
Putting a home into a trust has several benefits, from avoiding the lengthy probate process to providing potential tax advantages. This article discusses some of the intricacies of trusts and the importance of consulting with an experienced estate planning attorney. What Is a Trust and Why Is It Important? A trust is a legal arrangement where one person (the grantor) transfers ownership of their assets, like a house, to a trustee. The trustee holds and manages these assets on behalf of the named beneficiaries. One main benefit of putting property in a trust is to avoid probate, which can be…
12/27/23 • by: The Law Office of John A. Laine, P.C.
While physical disabilities may not impact a client’s ability to manage their own assets, mental illnesses and age-related cognitive impairment can eventually lead to incapacitation and the inability to manage their own assets.
11/14/23 • by: The Law Office of John A. Laine, P.C.
When you purchase and own a home, your name is on the title to the property, indicating ownership. However, you can transfer ownership of your residence to another person or entity in the form of a real estate trust.
06/02/23 • by: The Law Office of John A. Laine, P.C.
The primary benefits of revocable trusts only are available if a revocable trust is FUNDED during life. Unfortunately, experienced estate planning attorneys often have clients who delay the funding of their revocable trusts until it is too late and miss many of the benefits that these trusts provide.
05/03/23 • by: The Law Office of John A. Laine, P.C.
Many families discover that trying to mitigate the cost of long-term care can conflict with another common retirement concern—reducing taxes for retirees and their heirs.
04/20/23 • by: The Law Office of John A. Laine, P.C.
