Wills and estate planning are designed to distribute the assets of the estate owner to the heirs and beneficiaries while reducing the time and cost of the probate court process. Wills and estate planning are a crucial part of any well-designed financial plan.
A charitable remainder annuity trust or CRAT is an irrevocable trust that is established as a Planned Giving agreement between a donor and a charitable organization. The donor contributes a substantial gift in the form of cash, equity, liquid assets, appreciated stock, bonds, or real property to the charitable remainder annuity trust. A trustee manages and oversees all transactions of the trust including the sale of assets in the trust and the reinvesting of proceeds. The trustee can be the charitable organization, bank, lawyer, or finical advisor. The trustee then makes regula
Estate planning and irrevocable trust are important tools in any financial planning strategy that can save your family time and money in probate court. An irrevocable trust is a financial arrangement much like other forms of trusts except that the grantor relinquishes ownership and control of the property, assets, and any funds in the trust. An irrevocable trust cannot be revoked, modified, or terminated by the grantor once created, except with the permission of the beneficiaries. The grantor is not allowed to withdraw any contributions from the irrevocable trust. Once the grantor donat