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Should You Consider a Trust?

Should You Consider a Trust?

When most people hear the word “trust,” they think of the ultra wealthy. And for good reason. Many wealthy people use trusts to protect their assets from estate taxes and other financial threats, and to pass along fortunes to children and dependents. But trusts can be used for a number of purposes beyond just saving on estate taxes. Here are a few of the reasons you might want to consider a trust as part of your financial and estate plan. I’ve also included a brief description of some of the types of trusts people have used in these situations.
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Digital Deactivation – The Beat Goes On

Digital Deactivation – The Beat Goes On

In this two-part series, we’ve been looking at how some of the most prevalent social brands handle deceased users. If you missed the previous post , click here. Pinterest follows Twitter’s lead on lack of access. Out of respect for the privacy of their users, they will not divulge any personal login information. Deactivating an account requires an email to care@pinterest.com with the following information: requester’s full name and proof of his or her relationship to the deceased, the deceased’s full name and email address, a link to the account and documentation of their passing.
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Protect Your Estate – and Your Heirs

Protect Your Estate – and Your Heirs

The end goal of estate planning is to ensure your heirs are financially secure. That’s the reason you go to all the effort to organize your affairs in the first place – to protect your family. But improperly set up or poorly managed, a large portion of your estate could end up in the hands of the government in the form of federal income taxes. In order to avoid these potentially devastating penalties, you first need to know what taxes your estate stands to face before you can develop a plan.
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The Legacy Dilemma

The Legacy Dilemma

For many years television shows reflected the concept of the traditional American family – a father, a mother and biological children. Think “Leave It to Beaver.” There were, of course, exceptions. “The Brady Bunch” comes to mind. But for the most part it was the nuclear family as it then primarily existed.
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Think Beyond the Here and Now

Think Beyond the Here and Now

Digital assets come in all shapes and sizes, but they aren’t necessarily indicative of wealth. “Digital assets are anything you find of value in your life that is electronic,” says Evan Carrol, co-author of Your Digital Afterlife, in an interview with WGBH News. “It’s anything you interact with via your computer or smartphone.”
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