What a Does Good Estate Plan Look Like? | Part 8 of a 10 Part Series | A Living Trust Can be Used to Achieve the Outcome You Desire
Estates are as unique as the individuals and families that own them. This is why one-size-fits-all estate plans downloaded from the internet should be avoided. A good estate plan is customized for the proper transfer of your assets to your heirs and beneficiaries. Estate plans should be specifically tailored for your family needs. A Living Trust can be used to achieve the outcome you desire for your family.
Here are 10 common estate planning considerations:
- Enabling your spouse to remain in the family home.
- Ensuring that your separate property and half of the community property goes to your children if the surviving spouse remarries.
- Providing for the care of a disabled son or daughter.
- Providing for your care if you are infirmed and/or unable to make decisions.
- Distributing money over time to an irresponsible son or daughter.
- Helping a son or daughter struggling with addiction by providing treatment and milestone incentives for maintaining their recovery.
- Creating a plan for the operation of a business when the principal dies or becomes incapacitated.
- Donating assets for charitable purposes while achieving tax benefits.
- Ensuring your pets will be properly cared for.
- Making sure your estate assets are immediately available to your family while avoiding the cost and inconvenience of probate.
The Living Trust Source encourages families to consider the uniqueness of their own circumstances when planning their estate. A Living Trust tailored to your needs is often the most effective way to achieve your estate planning goals.