An estate plan—and the will, that can be one of its key components—should be dynamic, not static. As changes occur in your life, they need to be reflected in your estate plan. Are you the same person that you were when you made out your last will? Literally, yes; figuratively, probably not—unless you’ve reviewed your […]
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What is a “fiduciary”?
You might get investment advice from any of the following sources: a financial planner a financial consultant a financial advisor an investment advisor an investment representative a stock broker a wealth manager an insurance agent a relative a bank trust officer Which of these sources will owe a fiduciary duty to his or her clients? […]
Read MoreDebts and death
DEAR TRUST OFFICER: What happens to my debts when I die? —STILL PAYING THE MORTGAGE DEAR STILL: According to a study by the credit bureau Experion, released in December 2016, some 73% of consumers have debts when they die, including mortgage debt. Some 68% have credit card debt; 37% have mortgage debt; 25% have car […]
Read More12 Reasons to Review Your Will
Creating a will and an estate plan is not a “one and done” event. Many events can cause a plan that made perfect sense when it was drafted fail to meet expectations and the needs of the family. Life happens. As a rule of thumb, a will and estate plan should be reviewed every five […]
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