Arden Trust Company’s Post

Let me tell you a story about 4 siblings inheriting a house from a blended family. After the father died, the wife passed away a few years later, leaving the children to handle two houses. They had one in Texas and one in CO. With only a will in place, the estate had to go through probate. The woman lived off a pension and had few liquid assets. Due to some conflicts in the will, the probate process took longer than expected (FYI, a simple, clean probate is currently taking about seven months). The family had to go through probate in both states. This is called Double Probate. With little liquid assets available to the executor, the children had to cover maintenance, taxes, and other expenses for both houses until probate was completed, straining their personal finances. One of the siblings were financially strapped and expected the other siblings to pony up all the money to keep up with the house payments, utilities, etc. Another sibling did not want to deal with everything and was very transient. The other siblings could not even find them. This left two of them holding the bag and caused a lot of pressure for them. If the parents had placed the homes in a living trust, the children could have avoided dual probates and sold the houses immediately. #blendedfamily #estateplanning #wills #trusts #doubleprobate #familyconflict

Trusts can be set up to protect and preserve the family property and assets for future generations. Keep reading to learn more about the different types of trusts and how each can set your children or heirs up for success. 🙌 #MNrealestate #titleinsurance #OpenAt8CloseAllDay #titleagent

Trusts can be set up to protect and preserve the family property and assets for future generations. Keep reading to learn more about the different types of trusts and how each can set your children or heirs up for success. 🙌 #MNrealestate #titleinsurance #OpenAt8CloseAllDay #titleagent

A will is just the beginning of securing your legacy. Trusts play a vital role in comprehensive estate planning, offering several benefits: • Avoiding Probate: Bypass the lengthy probate process for a smoother asset transfer. • Asset Protection: Protect your wealth from creditors and legal claims. • Tailored Distributions: Control when and how your beneficiaries receive their inheritance. • Privacy: Keep your affairs confidential—trusts don't become public records. • Support for Minor Children: Designate funds for your children's care and education. Don't leave your family's future to chance! Start planning today for a secure legacy. 💬 Have questions about trusts? Let's chat! 📞 802-773-4935 💌 hello@willandtrustplanning.com #EstatePlanning #Trusts #WillAndTrustPlanning #LegacyPlanning #FinancialSecurity #AssetProtection #Probate #PeaceOfMind #Inheritance #FuturePlanning

By creating and funding a revocable trust, your beneficiaries will avoid having to go through this probate process. This avoids the attendant costs and delay, which can be substantial if there is a Will contest or hard to find relatives. Visit our blog to learn more about revocable trusts here: https://lnkd.in/eMWiXXKY #revocabletrusts #trusts #trustplanning #estateplanning #elderlaw #probate #will #assetprotection #legacy #legacyplanning #beneficiaries #heirs #trustees #planningahead

🌟 Discover Trusts with Rudman Winchell! 📜⚖️ Trusts are legal tools that can help you protect your assets and plan for the future. There are different types, like Revocable Trusts that can be changed, and Irrevocable Trusts that offer more protection once set up. Benefits of trusts include: 🚫 Avoiding Probate: Ensuring your loved ones receive assets faster and with less hassle. 🛡️ Protecting Assets: Shielding your wealth from creditors and legal claims. 📝 Planning for Long-Term Care: Ensuring your assets are used for your care needs as you age. 🦼 Special Needs Planning: Providing for loved ones who require ongoing support without risking their benefits. Interested in how trusts can benefit you and your family? Connect with Rudman Winchell to learn more about how to secure your assets and plan for the future! Learn more about trusts - https://loom.ly/dUULPGs #Trusts #EstatePlanning #AssetProtection #RudmanWinchell #LegalInsights

What if your lasting legacy was caught up in the dreaded probate process 😨 Avoid the pitfalls of probate and see why setting up a trust offers the flexibility and customization that will protect your hard earned money now and in the future. Read more: https://hubs.la/Q02HMLNc0 #WillsandTrusts #LegacyPlanning #FamilyMatters #FuturePlanning

If you don’t want your #Will to provide a specific amount of money for a #beneficiary, a trust could be the answer. Here’s how this works: https://lnkd.in/ev5EkMb8 #wills #willsandprobate #trusts #willssolicitors

What is The Differences Between Wills and Trusts? When planning your estate, understanding the differences between wills and trusts is crucial to ensuring your assets are distributed according to your wishes. Both tools are essential components of estate planning but serve distinct purposes and come with their own set of benefits and limitations. Wills are legal documents that outline how you want your assets distributed after your death. They take effect only after you pass away and must go through probate, which is the legal process of validating the will and distributing the assets. Probate can be time-consuming and costly, potentially reducing the value of your estate. Wills also allow you to appoint guardians for minor children and specify funeral arrangements, but they do not address incapacity. Trusts, on the other hand, are legal arrangements where you transfer ownership of your assets to a trust managed by a trustee. There are various types of trusts, but the most common are revocable living trusts and irrevocable trusts. Revocable living trusts can be altered or dissolved by you during your lifetime and avoid probate, allowing for a more streamlined distribution of your assets. Irrevocable trusts, however, cannot be changed once established and may provide tax benefits and asset protection. Trusts can also manage your assets if you become incapacitated, providing a plan for managing your affairs even if you are unable to do so yourself. In essence, while wills are straightforward documents that handle the distribution of your estate after death, trusts offer a more flexible and often more private approach, with the added benefit of managing assets during your lifetime and in case of incapacity. The choice between a will and a trust—or the decision to use both—depends on your specific needs, financial situation, and estate planning goals. Consulting with an estate planning attorney can help you determine the best strategy to ensure your wishes are honored and your loved ones are taken care of........ (Read more) https://lnkd.in/ecxwKeaG #EstatePlanning #WillsVsTrusts #TrustsAndWills #EstatePlanning101 #Wills #Trusts

Ensure your children, grandchildren and other chosen beneficiaries, can benefit from the inheritance you want them to have, with strategic use of Trusts. 👀 See how to use Trusts by following the link! Protecting assets through Trusts ________________________________ Panthera Estate Planning 023 9319 0377 #Trusts #WillsandTrusts #InheritancePlanning #EstatePlanning