The real question is where the asset is, not where you live. The goal of the DAPT is to protect the ‘asset’ from your liabilities, not to protect ‘you’.
They’re typically formed to work in unison with your Will or Revocable Living Trust and not to replace your Estate Plan.
Many parents and grandparents don’t realize how creative they can be in distributing their assets to their children upon their passing. They also think it’s only for rich people and it’s an expensive process with high-powered attorneys. That’s certainly not the case…anybody can control their kids from the grave with unique trust provisions. You’ll love […]
The Trust creates a structure so that the money is bestowed to the Guardian of your pet in a proper manner with rules and guidelines
Millions of Americans die each year without any type of estate plan in place, and this forces their families into the court system, where they experience huge expenses with probate and significant time delays when they would rather be mourning.
Procrastination is easy – especially when it comes to something where the benefits won’t be apparent until you are either incapacitated or have passed away. However, if you care about saving your loved ones thousands in legal fees, months of time, and a mountain of headaches and worries, then completing your estate plan is truly a caring act of charitable service that you should consider completing before it becomes everlastingly too late.
Of course, the average American’s net worth is far less than this and maybe that’s why no one is talking about it, but I thought it was at least worth a short article to set forth the facts.