In New Hampshire, trusts are often established as part of the estate planning process to protect loved ones from receiving an outright gift payment and also to add a layer of privacy to an estate plan. If your beneficiaries and your trustee don’t get along, this can foreshadow a lot of problems with the implementation of the trust. The creator of a trust, also known as a grantor or settlor, may want the trustee to Read More
Why Are Beneficiaries Important For Estate Planning Purposes?
You may know that some aspects of your estate may pass outside of probate or your will. These are known as those accounts that have beneficiaries listed on them. It is very important to designate both primary and contingency beneficiaries so that you can feel confident that your estate plans are being followed through and that those people you intend to receive money get it after you pass away. By naming Read More
Should I Name a Trust as a Retirement Account Beneficiary?
When designating retirement account beneficiaries, it is important to think about your individual estate planning goals. There are disadvantages and advantages to naming a trust as a beneficiary of a retirement account. You can avoid probate, expenses and frustration when naming beneficiaries for qualified retirement plans as these assets pass outside of your probate estate. Naming a trust as a beneficiary of your Read More
What Does It Mean to Say an Account Is “Transfer on Death?”
A transfer on death designation allows beneficiaries to receive assets at the time an individual passes away rather than waiting for the entire estate to go through probate. This also lets the security or account holder specify the specific percentage of assets that every beneficiary will receive. This is very helpful for an executor to distribute a person's assets after the creator passes away. Transfer on death Read More
Three Things to Keep in Mind with Beneficiary Distributions
Do you know who in your life would receive assets from your retirement accounts or a life insurance policy? Have you updated this recently? Beneficiaries are the people who will receive assets inside your estate or directly receive assets inside other accounts like brokerage accounts or from life insurance policies. There are many different things to keep in mind as you think about who to name as a beneficiary. The Read More
Why Being Proactive Is Important for Estate & Elder Planning
You know that you need to create an estate and finding a way to craft these documents will not only give you peace of mind but makes things easier for your loved ones. But if you haven't taken the steps already to put your estate plan into writing, you could be leaving your loved ones to deal with the difficult task of having to wait for the court to process your probated estate. The court becomes empowered to make Read More
