November 22, 2004 07:32 AM
Living Trust Offers: How to Make Sure They're Trust-Worthy
Excerpt: Estate planning deals with what happens to your assets after you die. Even if you are a person of modest means, you have an estate — and several strategies to choose from to make sure that your assets are distributed as you wish and in a timely way. The right strategies depend on your individual circumstances. That is, what is best for your neighbor might not make the most sense for you.
You've worked hard for your money, and made every attempt to be a conscientious saver. So it's only natural that you want some control over what happens to your assets in the event of your death. At the very least, you probably want to minimize or avoid potential hassles and headaches for your loved ones.
Estate planning deals with what happens to your assets after you die. Even if you are a person of modest means, you have an estate — and several strategies to choose from to make sure that your assets are distributed as you wish and in a timely way. The right strategies depend on your individual circumstances. That is, what is best for your neighbor might not make the most sense for you.
Misinformation and misunderstanding about estate taxes and the length or complexity of probate provide the perfect cover for scam artists who have created an industry out of older people's fears that their estates could be eaten up by costs or that the distribution of their assets could be delayed for years. Some unscrupulous businesses are advertising seminars on living trusts or sending postcards inviting consumers to call for in-home appointments to learn whether a living trust is right for them. In these cases, it's not uncommon for the salesperson to exaggerate the benefits or the appropriateness of the living trust and claim — falsely — that locally-licensed lawyers will prepare the documents.
READ FULL STORY ...
Social Security Reforms On The Way? (November 26, 2004)
President Bush has pledged to move quickly in the New Year to overhaul Social Security but the White House is still debating the best way to reform the creaking system, administration officials and Republican sources say. While a campaigning Bush called for allowing young workers ...
Some New Ways To Preserve Your Retirement (November 23, 2004)
Insurance companies and mutual-fund firms are rolling out a dizzying variety of annuities and other products targeted to people worrying about running out of money in their retirement. MetLife Inc. in September introduced what it calls "retirement-income insurance," essentially an annuity you buy now that ...
How to Forecast a Lifespan (November 21, 2004)
Need a better idea of just how long you might live -- and how you might be able to extend that time? Try these life-expectancy calculators. One of the big question marks in planning for retirement, long-term care and related needs is life expectancy. How ...
Be Happy, And Put Retirement Fears to Rest (November 21, 2004)
WASHINGTON (Reuters) - If retirement fears were color-coded, they would be somewhere between orange and red right now. In honor of "National Retirement Planning Week" the investment industry has churned out a zillion studies, each saying that Americans are woefully unprepared or uninformed about how ...
Read all 52 posts in the same category of Retirement:
Avoiding Confusion With IRA Rollovers -
Feb 19, 2005
Greenspan Backs Idea of Accounts for Retirement - Feb 18, 2005
Greenspan Sees Medicare Crunch - Feb 17, 2005
Bush Seeking Help For Overhaul - Feb 13, 2005
Social Security Plan Hinges on the Peg - Feb 13, 2005
Americans Worry About Saving - Feb 10, 2005
Online Calculators Test Social Security Scenarios - Feb 10, 2005
Retirement Turns Into a Rest Stop as Benefits Dwindle - Feb 10, 2005
Automatic 401(k) Enrollments May Lasso Lackadaisical Savers - Feb 04, 2005
Taking the Wheel Before a Pension Runs Into Trouble - Jan 31, 2005
Taking Time Off - Jan 25, 2005
Planning Your Retirement Online - Jan 23, 2005
A Hole In Krispy Kreme's Balance Sheet? - Jan 15, 2005
Five Keepers - Jan 15, 2005
Are Spendthrift Americans Really the Problem? - Jan 09, 2005
White House Memo Argues for Social Security Cuts - Jan 05, 2005
The Other Retirement Crisis - Dec 29, 2004
If You Didn't Save 10% of Your Income This Year, You're Spending Too Much - Dec 27, 2004
Model Reveals Social Insecurity - Dec 27, 2004
Want to Retire Early, It May Take Some Work - Dec 27, 2004
What You Need To Know About Personal Savings Accounts - Dec 27, 2004
Going The Distance - Dec 26, 2004
Future Retirees To Lose Health Coverage - Dec 26, 2004
The Gift Of Financial Stability - Dec 26, 2004
Model Reveals Social Insecurity - Dec 21, 2004
Banks Stay Calm On Social Security - Dec 21, 2004
Six Ways to Sleep Better in Retirement - Dec 19, 2004
Social Security: Five Burning Questions - Dec 19, 2004
Bush: Start Bow On Social Security - Dec 18, 2004
Bush Says Social Security Plan Would Reassure Markets - Dec 17, 2004
Are You Ready To Retire? - Dec 13, 2004
Last-Minute Retirement Planning - Dec 12, 2004
Small Change Adds Up To Big Savings - Dec 09, 2004
Bush To Borrow To Fix Social Security - Dec 07, 2004
Moving Smoothly Into Retirement - Dec 07, 2004
Get Healthy, Get Wealthy - Dec 06, 2004
Five Books to Retire By - Dec 05, 2004
Tax Policy Promotes Early Retirement - Dec 02, 2004
Fidelity Analyzes Pension Performance - Dec 02, 2004
Social Security COLA Increase Looks Puny - Dec 02, 2004
No More IRA Leniency - Nov 29, 2004
To Yield A Good Retirement, Get Real, And Work It Out - Nov 28, 2004
Social Security Reforms On The Way? - Nov 26, 2004
Some New Ways To Preserve Your Retirement - Nov 23, 2004
How to Forecast a Lifespan - Nov 21, 2004
Be Happy, And Put Retirement Fears to Rest - Nov 21, 2004
Seven Ways to Stop Saying 'Oops!' - Nov 21, 2004
Retirees Don't Have to Be So Frugal: A Case for Withdrawing Up to 6% a Year - Nov 17, 2004
How to Avoid Living Like a Poor Student at Age 70 - Nov 09, 2004
What Social Security Might Look Like - Nov 09, 2004
Are You Retirement Ready -- Or Not? - Nov 03, 2004
Greenspan Backs Idea of Accounts for Retirement - Feb 18, 2005
Greenspan Sees Medicare Crunch - Feb 17, 2005
Bush Seeking Help For Overhaul - Feb 13, 2005
Social Security Plan Hinges on the Peg - Feb 13, 2005
Americans Worry About Saving - Feb 10, 2005
Online Calculators Test Social Security Scenarios - Feb 10, 2005
Retirement Turns Into a Rest Stop as Benefits Dwindle - Feb 10, 2005
Automatic 401(k) Enrollments May Lasso Lackadaisical Savers - Feb 04, 2005
Taking the Wheel Before a Pension Runs Into Trouble - Jan 31, 2005
Taking Time Off - Jan 25, 2005
Planning Your Retirement Online - Jan 23, 2005
A Hole In Krispy Kreme's Balance Sheet? - Jan 15, 2005
Five Keepers - Jan 15, 2005
Are Spendthrift Americans Really the Problem? - Jan 09, 2005
White House Memo Argues for Social Security Cuts - Jan 05, 2005
The Other Retirement Crisis - Dec 29, 2004
If You Didn't Save 10% of Your Income This Year, You're Spending Too Much - Dec 27, 2004
Model Reveals Social Insecurity - Dec 27, 2004
Want to Retire Early, It May Take Some Work - Dec 27, 2004
What You Need To Know About Personal Savings Accounts - Dec 27, 2004
Going The Distance - Dec 26, 2004
Future Retirees To Lose Health Coverage - Dec 26, 2004
The Gift Of Financial Stability - Dec 26, 2004
Model Reveals Social Insecurity - Dec 21, 2004
Banks Stay Calm On Social Security - Dec 21, 2004
Six Ways to Sleep Better in Retirement - Dec 19, 2004
Social Security: Five Burning Questions - Dec 19, 2004
Bush: Start Bow On Social Security - Dec 18, 2004
Bush Says Social Security Plan Would Reassure Markets - Dec 17, 2004
Are You Ready To Retire? - Dec 13, 2004
Last-Minute Retirement Planning - Dec 12, 2004
Small Change Adds Up To Big Savings - Dec 09, 2004
Bush To Borrow To Fix Social Security - Dec 07, 2004
Moving Smoothly Into Retirement - Dec 07, 2004
Get Healthy, Get Wealthy - Dec 06, 2004
Five Books to Retire By - Dec 05, 2004
Tax Policy Promotes Early Retirement - Dec 02, 2004
Fidelity Analyzes Pension Performance - Dec 02, 2004
Social Security COLA Increase Looks Puny - Dec 02, 2004
No More IRA Leniency - Nov 29, 2004
To Yield A Good Retirement, Get Real, And Work It Out - Nov 28, 2004
Social Security Reforms On The Way? - Nov 26, 2004
Some New Ways To Preserve Your Retirement - Nov 23, 2004
How to Forecast a Lifespan - Nov 21, 2004
Be Happy, And Put Retirement Fears to Rest - Nov 21, 2004
Seven Ways to Stop Saying 'Oops!' - Nov 21, 2004
Retirees Don't Have to Be So Frugal: A Case for Withdrawing Up to 6% a Year - Nov 17, 2004
How to Avoid Living Like a Poor Student at Age 70 - Nov 09, 2004
What Social Security Might Look Like - Nov 09, 2004
Are You Retirement Ready -- Or Not? - Nov 03, 2004
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