Many people now choose to use a revocable living trust to pass along their estate to their survivors, instead of relying on the traditional last will and probate. It may be best though, for you to create a trust. And the question then is: what does it mean to fund the trust--how do I do that?
How Much to Tell your Heirs About your Estate Planning Decisions--Communicating the what and why.
Estate and Gift Tax Laws for 2022 - IRS Announcing New Gift Exemption for 2023: $17,000
There are planning tools you can use to help your Personal Representative administer your estate.
You can keep your accounts or other property from being unclaimed property at the state of Wyoming. Make sure your beneficiary designations on ALL of your accounts--bank accounts, investment accounts, policies, retirement accounts have proper beneficiary designations.
Here's how the new IRS life expectancy tables affect required withdrawals from IRAs and 401(k) plans
Modern estate planning is more flexible that you might think. Be sure to contact your estate planning attorney regularly, especially where there are changed circumstances in your life.
Doing good deeds--avoid using bad deeds: Why using a warranty deed is usually the better choice
How to title your trust assets for protection.
Where there are joint owners of an account, the burden is on the non-debtor account owner to prove what funds are not subject to execution.
Please be aware of the limited use of a durable power of attorney for estate planning and incapacity planning--this tool is not always the best tool for the job.
How is capacity defined in Wyoming for estate planning?
Balancing how I wish to make my trust and the benefit of the beneficiaries.
There are several qualifications a person should have before you appoint them to be your Personal Representative.
A recent Wyoming Supreme Court opinion, in the April 2019 term, the Everston case (1029 WY 84), identified three purposes for a proposed decanting of a trust: (1) allowing Trust property to continue to be enjoyed by the Settlor's intended beneficiaries with favorable transfer tax and asset prote...
