Making the right choice when it comes to securing your wealth has never been easier.

Making the right choice when it comes to securing your wealth has never been easier.

The Uncertainties of Creating an Estate Plan

There are many unknowns when planning an estate, but you can’t let the uncertainties get in the way of creating any kind of plan. Having an imperfect plan is usually better than having no plan at all. When planning an estate you want to be able to consider all the angles, but there are inevitably a number of “known unknowns” that can make planning difficult. These include: How long you will live How much money you will have left over, which can depend on longevity and potential need for care Your children’s health Your children’s financial stability, now and perhaps

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10 Questions To Help You Create Your Will

A Holistic Approach to Your Affairs For many people, especially those approaching middle- or retirement-age, know they should put together a plan for their estate, but feel overwhelmed by the details and options. They continue to put off estate planning for “another day” until, often, it is too late. Younger people also should consider their affairs, because there is no time like the present and because tomorrow is never guaranteed. In fact, putting together a comprehensive estate plan, whatever your particular situation in life, is easier than you think. There are five major components of any estate plan, addressing both

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Understanding the Differences Between a Living Trust and an Irrevocable Trust

Trusts can be useful tools to protect your assets, save on estate taxes, or set aside money for a family member. But before you commit to adding a trust to your estate plan, make sure you understand the differences between revocable (also called “living”) and irrevocable trusts because each offers advantages and disadvantages, depending on their purpose. While the two main types of trusts differ in how they are structured and taxed, both types of trusts are tools for setting aside assets and distributing them according to specific wishes and instructions. They can protect one’s property, safeguard a family’s financial

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Providing for Your Pet with a Trust

How can you ensure your pet will be cared for? One option is to create a pet trust. While you can give directions in your will to leave your pet to a caretaker, there is no guarantee that the caretaker will continue to care for your pet. A pet trust can provide a little more security for the pet because a third party — the trustee — is obligated to ensure the pet is cared for. A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds

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What Is a Trust Protector and When Might You Need One?

Trust protectors — long popular in offshore trusts set up by high rollers — are growing more common in trusts established here in the U.S. by less affluent folks. A trust protector is someone who is appointed to watch over a trust that will be in effect for a long time and ensure that it is not adversely affected by any changes in the law or circumstances. There are a number of reasons for appointing a trust protector. Having a protector allows a long-term trust to be more flexible and adapt to factual and legal changes. For example, beneficiaries may

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Gosselin Law’s Response to Coronavirus/COVID-19

Gosselin Law seeks to reassure our clients that we are ready, resourceful and committed to serving families during their most difficult times. We currently remain open to best support our clients. We are following the Center for Disease Control (CDC) preventative recommendations: avoiding close contact, frequent handwashing, covering your mouth and nose with a tissue when coughing or sneezing and cleaning frequently touched objects and surfaces. At Gosselin Law, this translates into the use of our large conference room which keeps larger distances between people than in our small conference room, the cleaning of shared surfaces and equipment and practice

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