Estate planning is a must for all responsible adults. Unfortunately, studies show that most Americans do not have a comprehensive estate plan in place. One of the reasons why people do not plan ahead for something that is definitely going to happen is because they lack information. With this in mind, we do everything possible to provide educational opportunities to people in the Quad Cities area.
This website is a good source of information if you want to learn about estate planning. We update this blog on an ongoing basis, and you should bookmark this site, because there is always something new to learn on the blog.
In addition to the blog, we also offer a number of special reports. These reports cover many different estate planning and elder law topics, and they go into great detail. You can download one or all of the reports, and they are being offered free of charge.
Estate Planning Workshops
In addition to the information that we disseminate electronically, we also make an effort to get out into the community providing free workshops for people who want to take the next step. We have been providing workshops throughout the summer, and the series continues during the month of July.
These workshops will cover estate planning in general, but there is a specific focus on revocable living trusts.
Revocable Living Trusts
People sometimes have misconceptions about trusts. They think that they are only useful for the wealthy, and they assume that you surrender control of assets that you convey into a trust.
There are trusts that are useful for the wealthy, but revocable living trusts are beneficial for people of relatively ordinary means. When you create a revocable living trust you can act as both the trustee and the beneficiary. As a result, you do not lose control of the assets that have been conveyed into the trust. You can receive monetary distributions, and you can control the actions of the trust.
Because the trust is revocable, you could also rescind the trust if you choose to do so, and it would no longer exist. The assets would once again be in your personal possession.
These trusts are popular because they facilitate probate avoidance. Probate is a legal process. Your estate must pass through this process if you use a last will to direct future asset transfers. The heirs to the estate would not receive their inheritances until after the estate was probated and closed by the court.
This can be a time-consuming process. When you use a living trust, probate is not a factor.
Attend a Summer Estate Planning Workshop
To see the complete schedule of our upcoming workshops, click this link: Summer Estate Planning Workshops.