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Make a Will Month

August is “National Make a Will Month” We have recently discussed corporate fiduciaries, special needs trusts, and the differences and similarities between wills and revocable trusts. Although August is officially “National Make a Will Month,” we wanted to highlight the importance of estate plans – not just wills. For today’s post we have compiled a…

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Key Differences in Wills and Trusts

Having an estate plan is incredibly important, regardless of your goals, family situation, or net worth. Well-designed estate plans may include a will, a revocable trust, or sometimes both. Now, what are some of the differences in wills and trusts? Wills Your will becomes a governing legal document upon your death. It allows you to…

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Special Needs Trusts: What they are, What to Consider, and More

What is a Special Needs Trust? A special needs trust, sometimes called a supplemental needs trust (SNT), is an irrevocable trust that provides resources to enhance a disabled beneficiary’s quality of life without disqualifying the beneficiary from means-tested public benefit programs like Medicaid (MA) or Supplemental Security Income (SSI). The beneficiary does not own the…

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3 Major Benefits of a Corporate Trustee

There are numerous decisions that need to be made throughout the estate planning process. One of the biggest decisions you will make is who to select as your trustee. Appointing a family member or a friend may seem like a great idea at the time, but it could turn into a costly mistake down the…

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