Should you name your living trust as the beneficiary of your life insurance policy? Is it better to name specific individuals as direct beneficiaries? This decision can have significant implications ...

In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering ...

If the goal is to help children bypass probate, a living trust is only part of the strategy, not a catchall bucket for every asset. Some accounts and policies already have built-in ways to sidestep ...

How does it work? What is the purpose of a revocable living trust? The primary role of this type of trust is to provide a comprehensive framework for managing and distributing assets, both during the ...

Estate planning provides for the smooth handling of your assets after death. However, only around 32% of American adults have a will, indicating that most people haven’t taken the appropriate steps to ...

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Probate, which is the process of transferring your assets after you’ve died, can be time-consuming and expensive. Kelsey Simasko — attorney at Simasko Law in Mount Clements, Michigan — explained that ...

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Sometimes, not always, when a person dies — even if they left a will — a legal process called probate ensues. Probate is ...