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December 2019 Archives

How should you fund your living trust?

Many individuals set up a revocable living trust to provide for their loved ones after they're gone. While many people assume that they have to have a tremendous amount of wealth to set up one of these, they don't. You can take some of your most valuable assets and place them in the trust. You can also set aside small amounts of cash or your stock dividends into this estate planning tool. These are just some of the many ways to fund your living trust.

Why irrevocable trusts are an important asset protection tool

Irrevocable trusts are those that generally cannot be modified once they've been formed and funded. This means that even the grantor, or the person who sets it up, generally can't ask to have the property that they've placed into the trust back. That individual can't manage the assets contained in the trust either. Irrevocable trusts continue to be popular among individuals who are looking to protect their assets as part of their estate plan.

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