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Posts tagged "trusts"

What you should know about special needs trusts

A special needs trust is a type of trust that is set up to specifically handle the needs of a beneficiary that is considered disabled or mentally ill. It is similar to a regular trust and is managed by a person called a "trustee." The person that benefits from the trust is called a" beneficiary." A special needs trust is generally created when a beneficiary lacks the ability or mental capacity to run and manage their own finances.

Estate planning mistakes to avoid

Estate planning is one of the most critical parts of wealth management. It involves developing wealth, preserving it, and arranging for the succession of it. If done well, it can result in a person living a good lifestyle and still having a sizable estate that can go to their heirs. If done poorly, the money can run out in the person's lifetime or be less than hoped for when the time arrives for it to go to the heirs.

Livings trusts area a great estate planning tool

When an individual or a couple in California is looking at managing their assets, there are a variety of tools to consider. A will is one of the most well known, but it may not be able to offer all of the benefits that you want. For that reason, when doing your estate planning, it is important to consider other tools as well.

Estate planning options

When preparing for the golden years, a critical factor is making sure that finances are in good order. This includes estate planning, which combines making sure that the later years of life are taken care of and that finances are apportioned to the next generation as desired. There are multiple components to consider.

Estate planning is essential if you have a special-needs child

All Californians who have children should have an estate plan in place to ensure those children's care and financial support if something happens to their parents. However, this is especially true for parents of children with special needs. Sometimes, those children will need care and financial assistance into adulthood. Even if they won't, you want to make sure that they have a guardian who is able and willing to care for them properly.

Young children affect estate planning

Planning for the future includes a wide variety of considerations. One is the age of children that will need to be provided for if their parents pass away. If sons and daughters will be adults at the time, they may be able to handle managing inherited funds directly. However, if they are very young, estate planning will need to take a different approach.

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Suzanne P. Nicholl
6165 Greenwich Dr.
Suite 340
San Diego, CA 92122
Phone: 619-894-8552
Fax: 858-373-5556
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