Sun, December 7th, 2008
A Financial Advisor That Knows the Importance of Estate Planning is Essential
I wrote the other day about the importance of funding a revocable trust with your real estate and securities. Much of the focus is often on putting one’s home in a a trust to take advantage of the ease of transferring it to your family. Same goes for your stocks and your mutual funds. If you have an attorney that properly structures your trust and a financial advisor that understands the importance of managing the funds while they are safely held in your trust, you’re way ahead of the game.
In the Sacramento area, including Folsom and El Dorado Hills, one company which I would highly recommend is Hanson McClain. They are a trusted firm that looks out for your financial well-being but also understand the importance of the transfer of your assets to your family when you’re not around, essentially your family’s financial well-being. Check them out when you get a chance. They also host a weekly radio call-in show and write some interesting columns.
A couple of advisors I recommend, among the many at Hanson McClain who are highly-qualified, are David Cox and Eric Henry.
Posted by Nick Yonano at 05:25
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Labels: estate planning, revocable trust, securities, stocks, trust
Fri, December 5th, 2008
A No-Brainer: Real Estate and Securities Holdings Should Be Held by a Trust
There are many reasons why a person would not want to have a trust. Most of them are not very good when compared to the benefit, but yes, they do exist. For example, the small amount of paperwork or the need to set up a separate bank account for the insurance and mortgage payments may be a bit too much for some. If you own real estate, your reasons to avoid this estate planning tool become very unpersuasive.
Real estate in just about any form: a single-family home, a strip mall, an orchard, whatever. If it’s in your name when you pass away, you’ve likely given up a good chance to ease the transfer of it to those you intend it to go. And, you’ve probably made the tax ramifications of a transfer a little more complicated.
Compared to many assets a person holds, such as furniture, cars, boats, and other personal property, real estate and securities can be worth a significant amount of money and will usually increase in value as your life goes on. The ease of transferring these assets to your revocable trust in comparison to transferring other assets makes it highly beneficial to place these assets in your trust. It’s easy to do, it’s easy to manage after you do it, and most importantly, it’s easy for your family to administer after you’re gone.
Posted by Nick Yonano at 04:14
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Labels: estate planning, real estate, revocable trust, securities, stocks
