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Trusts Tag

Sussan, Greenwald & Wesler > Posts tagged "Trusts"

Type of Trusts

There are two basic types of trusts: living trusts and testamentary trusts. A Living Trust or an “inter-vivos” trust is set up during the person’s lifetime. A Testamentary trust is set up in a will and established only after the person’s death when the will goes into effect. Living trusts can be either “revocable” or “irrevocable.” Revocable trusts allow you to retain control of all the assets in the trust, and you are free to revoke or change the terms of the trust at any time. With irrevocable trusts, the assets in it are no longer yours, and typically you can’t make changes without the beneficiary’s consent....

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What you need you know about special Needs Trusts and Estate Planning for your family’s future

Written by  Sussan, Greenwald & Wesler Alex Hilsen is an attorney and Certified Financial Planner at Sussan Greenwald & Wesler.  In the following interview, he answers some of the most common questions he has fielded lately from his parents. Q: Who needs to think about estate planning and special needs trusts – everyone, or just parents who have children whom they expect will not live independently as adults? A: Everyone with a child should have an estate plan. It lays out or directs how your money will be distributed and who should care for your children in case of emergency or death.  If...

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