when to update your estate plan Archive

December 06,
2023

Can a Trustee Sell Trust Property Without All Beneficiaries Approving?

Trustees have fiduciary responsibility for managing a trust, so they must act in the best interests of the beneficiaries and in good faith. Can a trustee sell trust property without all beneficiaries’ approval? It depends on the trust type and terms. However, in most instances, the trustee does not need approval to sell property held in the trust.

December 03,
2023

The 2024 Estate & Gift Tax Exemption: What You Need to Know

The Estate Tax and Gift Tax are federal levies imposed on the transfer of an individual’s wealth upon their demise or when a gift surpasses the exempted amount during the donor’s lifetime. Typically, any transfer beyond this exemption threshold incurs a tax rate of 40%.

December 03,
2023

Storing Your Estate Planning Documents in a Safe Place

Getting organized as the year draws to a close in December sets the tone for a fresh start in 2024. A pivotal part of this preparation should be storing your estate planning documents. Ensuring these critical papers are secure yet accessible becomes an integral aspect of laying the groundwork for a well-prepared future.

November 20,
2023

Putting a House in a Trust: An Introductory Guide

If you’re like many, your most valuable asset is your home and it’s one you hope to pass on to your heirs after you die. An important component of estate planning is ensuring a transfer of assets to your loved ones with as little financial and emotional repercussions as possible. Putting a house in trust can accomplish that.

November 17,
2023

Homeowners’ Exemption vs. Homestead Exemption: Understanding the Difference

As a homeowner, you may be familiar with the Homeowners' Exemption, a benefit that helps reduce your property taxes. However, there's another exemption called the Homestead Exemption that serves a completely different purpose. Below is our explanation of both and how each of them works.

November 17,
2023

Caring for Loved Ones with Mental Health Challenges: The Dual Role of Conservatorships and Living Trusts

Caring for a family member with mental health issues can be a deeply emotional and challenging task. It involves providing emotional support but also making important decisions about their well-being and financial matters. In these situations, establishing a conservatorship and creating a living trust can play a pivotal role in ensuring the best interests of your loved one.

November 06,
2023

Can a Beneficiary Refuse a Trust Distribution?

A great deal of thought goes into designating who inherits your assets. Furthermore, establishing a trust to protect your beneficiaries’ best interests is often a complex endeavor. At AmeriEstate, we want to ensure you have the information and tools you need to safeguard your assets for the future.

October 26,
2023

3 Reasons to Seriously Consider Using a Living Trust for Your Family’s Inheritance

When it comes to planning your estate and ensuring a smooth transfer of your assets to your loved ones, the choice between a living trust and a will is a crucial decision. While both serve the purpose of distributing your assets big or small, a living trust offers several distinct advantages.

October 24,
2023

Safely Passing on Your Inheritance to Heirs: A Guide to Secure Wealth Transfer

Passing an inheritance to your heirs is a meaningful way to provide financial security and support for your loved ones after you're gone. However, ensuring a safe and seamless transfer of wealth involves careful planning. Have an estate plan in place to safely pass on an inheritance to your heirs.

October 24,
2023

10 Steps to Settling an Estate

If you are the executor of an estate, you have an important role to play after the estate owner passes. Whether for a family member or friend, the process can be overwhelming at a time when you are likely experiencing significant emotional stressors. However, taking the right steps to settle the estate is a legal and functional necessity.

Can a Trustee Sell Trust Property Without All Beneficiaries Approving?

The 2024 Estate & Gift Tax Exemption: What You Need to Know

Storing Your Estate Planning Documents in a Safe Place

Putting a House in a Trust: An Introductory Guide

Homeowners’ Exemption vs. Homestead Exemption: Understanding the Difference

Caring for Loved Ones with Mental Health Challenges: The Dual Role of Conservatorships and Living Trusts

Can a Beneficiary Refuse a Trust Distribution?

3 Reasons to Seriously Consider Using a Living Trust for Your Family’s Inheritance

Safely Passing on Your Inheritance to Heirs: A Guide to Secure Wealth Transfer

10 Steps to Settling an Estate

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