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What is a Revocable Living Trust and How can it Work for Me?

A revocable living trust, also called a living trust, is a legal entity created to hold ownership of an individual’s assets. The person who forms the trust is called the grantor, and also serves as the trustee in most cases, controlling and managing the assets.

 

But you may be wondering if this type of trust will work for you.

 

“A revocable living trust is designed that you are still in control of all of your assets. You as the grantor, settler of the trust creates this document and funds the assets into that trust, which means you title the assets that you own into this trust. You serve as the trustee of that trust.” says Anne Desormier Cartwright of Elder & Estate Planning Attorneys PA.

 

As the grantor of the trust you still maintain all control of those assets. You can change the trust, you can transfer assets out, you can add assets to that trust. So you maintain the control of your assets in a revocable trust.

 

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.

Strategies to Protect Your Assets

Or, in other words, “What you need to do for your nest egg”.

 

You’ve worked hard for your entire life and want to have a nest egg for your loved ones after you’re gone. What many people don’t realize is that protecting your assets can often be as difficult as accumulating them.

 

However, there are some things you can do to preserve what’s rightfully yours. First, and most importantly, never try to avoid paying your taxes. It’s not worth it.

 

Also, avoid a “one size fits all” solution for protecting your assets, since everyone has a unique financial situation.

 

“Strategies that work well for one person could be harmful for another person. This means you’ll have to do some work, but it also means you’ll know exactly what your asset protection strategy is and that it’s right for you.” says Anne Desormier Cartwright of Elder & Estate Planning Attorneys PA.

 

Take a proactive approach to asset protection and start early in life. Use it as a supplement to insurance, rather than a substitute. Another important thing to know is to never mix personal and business assets. Don’t pay personal expenses with a business account, and vice versa

 

An experienced estate planning attorney can help simplify your goals and create an asset protection plan catered to you.

 

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.

Found Hugs and Kisses at Deck The Palms Event

Deck the Palms

 

While shopping at the Deck the Palms event at the Palm Beach County Convention Center this past Saturday the 21st, my daughter and I discovered this wonderful charity. Hugs and Kisses, Inc. is a 501(c)(3) non-profit charity that raises funds for cancer patients in desperate financial need. Their goal is to help more cancer patients receive treatment on time and as prescribed. They provide short-term financial support for urgent living expenses.

 

I certainly hope that you’ll be able to help in any way possible. You can purchase bracelets or host your own party.

From Construction to Permanent Lending–June 26th

june 26

 

Types of financing for buying land and then building—gain a better understanding of process and qualifications!

 

When??? Friday, June 26, 2015 from 9-10:30 AM

 

Breakfast provided by Fairway Independent Mortgage
Sponsored by the JTHS Professional Development Committee

Location: JTHS Association of REALTORS® – Training Room
2151 Alternate A1A South
Suite 1100
Jupiter, FL 33477

 

Register here

“Fed Won’t Raise Interest Rates This Year”

Gundlach: Fed Won’t Raise Interest Rates This Year

JUNE 3, 2015

The Federal Reserve will not raise interest rates this year, contrary to the general consensus, said Jeff Gundlach, CEO and chief investment officer of DoubleLine.
The economic data will not support a rate hike, he said at the HighTower Apex conference in Chicago on Wednesday.
As for when the Fed actually will raise rates, he said watch for when the hourly earnings data starts to rise in the Department of Labor’s monthly employment report.
“When hourly earnings are rising, it’s a good signal the Fed will raise rates,” Gundlach said. “It’s one of the most important indicators. If it goes higher, I think the Fed will have a clearance to tighten, but we’re not there yet.”
Read more here.