When a Living Trust Makes Sense

Several years ago I was introduced to a retired couple From Ocean County, New Jersey who were starting to have health issues.

When the husband ended up in the hospital their daughter who lived out of state and from whom they were estranged, came to visit.  She was shocked to find out that while her Dad was in the hospital her mother allowed the bills to go unpaid, dividend checks were not cashed or deposited to their checking account and no one was overseeing their investment portfolio. Continue reading “When a Living Trust Makes Sense”

Personal Service Sets Independent Trust Companies Apart

In making the case for engaging an Independent Trust Company over a large bank or investment company one of the major considerations is the level of personal service offered by the independent trust company.  Let me share a recent experience I had with a client as an officer of Garden State Trust Company, an Independent Trust Company. Continue reading “Personal Service Sets Independent Trust Companies Apart”

Wills: Planning For The “What Ifs” in Life…And Death

So many times when we review a will for a single individual or married couple we ask did the draftsman (attorney) just follow instructions or did he or she or ask you, “What If”….? More often than not the answer is the attorney just followed my instructions. You may walk away with a new will and a smile on your face when in reality you suffered a disservice. Continue reading “Wills: Planning For The “What Ifs” in Life…And Death”

Is A Trust Too Expensive To Manage?

Why would I want to leave my estate in trust for my child instead of leaving it outright with no strings attached? Why would I leave my estate in trust for my child when it is going to be very costly to manage?

Surely, leaving your estate outright to your child is easier and certainly less expensive than leaving it in trust. But is it really? Let’s look at some examples. When assets are held in trust these assets are usually not subject to creditors claims. Assume you leave your estate outright to your daughter and she decides to start a business by borrowing money. Should the business fail the creditor will attach her assets and there goes her inheritance that you had hoped that would one day be passed on to your grandchild. Continue reading “Is A Trust Too Expensive To Manage?”

How Does A Trust Created By My Will Provide For My Heirs?

If you are like most parents, you and your partner have already decided that your children will inherit your assets when you both are gone. However, in the back of your mind looms the thought about their ability to manage and protect a large inheritance? Why not address some of these issues now. Continue reading “How Does A Trust Created By My Will Provide For My Heirs?”

Who Should Be My Trustee?

A trust can provide benefit for one individual’s lifetime and then terminate or benefit many individuals for several generations. Who should act as your trustee? How much power should you give your trustee?Your trustee can be an individual such as a friend or family member or your trustee can be a financial institution. Your trustee(s) can be a combination of an individual and/or an institution such as an independent trust company. Continue reading “Who Should Be My Trustee?”

How Do You Protect Your Assets During Turbulent Financial Times?

The past years have really been very trying for many. Recent events have only helped to create an aura of increased uncertainty. Many retirees as well as soon to be retirees are especially concerned since they are, or soon will be, counting on their investment portfolios for additional income. If you are in this situation you may want to ask yourself the following question, are my investments diversified enough to withstand changes in the market conditions? Continue reading “How Do You Protect Your Assets During Turbulent Financial Times?”