Living Trusts Over the last two decades, the popularity of Living Trusts has skyrocketed. No longer are a tool just for the rich, Living Trusts one of the most common estate planning tools in use today. This legal arrangement, usually drafted by an estate attorney, creates a separate entity called a Living Trust. A Living…

I am often asked how liability insurance is different from entity liability protection.  Liability insurance is purchased from an insurance company to cover claims against the business.  Business entities such as limited liability companies (LLC’s) and corporations provide limited liability protection, which prevents creditors from seizing the business owners’ assets. Business owners do not realize…

Many believe that setting up an estate plan is all there is to estate planning. This is incorrect, and potentially disastrous.  Estate plans need to be updated if certain life changes occur, and if there are no life changes, every three to four years. By leaving an estate plan stagnant, trustors put themselves and their beneficiaries…

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