A revocable trust allows assets correctly transferred into the trust during the grantor's lifetime to bypass probate. This can simplify asset distribution and help preserve privacy.
As one of the wealthiest individuals on the planet, Warren Buffett’s public disclosure of some of his estate planning earlier this summer no doubt garnered plenty of interest.
Phone and computer passwords, crypto wallets, investment portfolios, mobile banking passcodes and even social media credentials also need a place to go when you die.
Contingent beneficiaries provide a safety net, if the primary beneficiary cannot receive the assets from an estate or proceeds from a life insurance policy or retirement account.
Inadequate access to estate planning frequently prevents Black and Hispanic families from passing down wealth, which perpetuates the racial wealth gap.
Without proper estate planning, anyone can end up under an unjust and unneeded guardianship. In the wrong hands, the guardianship state system can lead to neglect and exploitation.
