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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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Living the Legacy

Living the Legacy

Family traditions are a wonderful way in which to tell the story of a family. They are also a great way to provide a sense of identity for all the members of a family, young or old, near or far. The purpose of a tradition is to create something that is special, something extra that lifts a family activity or event above the ordinary. But it doesn’t have to be big. A family tradition can be as simple as the ritual of a bedtime story or family dinnertime. It’s the communication and the sharing, the thought and intentionality that are important. And those are the qualities that will be remembered.
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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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Advance Care Planning

Advance Care Planning

The first conversation you need to have about advance care planning is with yourself. What treatment would you want to receive, or not receive, should you have an incurable or irreversible medical condition? If you don’t make your wishes clear, someone else will have to decide for you, generally a spouse or other adult family member or members, and their choice may not be what you wanted. We’ve also all read about situations where the matter has ended up being decided in court.
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A Photo Is Worth 1,000 Memories

A Photo Is Worth 1,000 Memories

A shoebox on the top shelf of a closet. That’s where the Polaroid of you and Grandma lived until it was discovered in the midst of sorting through her belongings. The memories were there for the taking and they were all treasured because they could never be recreated. Photos are one of your most prized possessions, a legacy to pass down for generations.
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