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“Do I have enough wealth to justify setting up a trust?” This is a common question. Many people (attorneys included) are under the impression there is some magical dollar amount of wealth one must attain before a Living Trust makes sense. Simple answer, is that no such magical amount exists. Estate planning is about your […]
Revocable Trusts vs. Irrevocable Trusts: What’s the difference in Rhode Island?
Trusts are essential tools for managing your assets and ensuring your wishes are carried out efficiently. However, not all trusts are the same, and whether you need a trust (if you are reading this you probably do) and what type of trust you need depends on your circumstances and your goals. So, without further ado, […]
Understanding Special Needs Trusts in Rhode Island
Caring for a loved one with special needs involves unique challenges, including financial planning for their future well-being. Special Needs Trusts, sometimes referred to as Supplemental Needs Trusts, are powerful tools designed to provide for individuals with special needs while preserving their eligibility for government assistance programs. What is a Special Needs Trust? A Special […]
Estate Planning Frequently Asked Questions
Confused about Estate Planning and don’t know where to start? Here are a few Frequently Asked Questions that may help: Do I need an estate plan? Yes, if you have any assets and care about who receives them after your passing, as well as who will oversee their distribution, you need an estate […]
Wills vs. Trusts: Understanding the Differences and Choosing Wisely
When it comes to estate planning, two common tools often come to mind: wills and trusts. But how do you know which you need? Both provide for distribution of your property after your death. However, wills and trusts operate differently and come with distinct advantages and disadvantages. Here, we’ll compare and contrast wills and trusts […]
Should I Update My Estate Plan When I Start My Own Business?
Update your estate plan when starting a business to protect your assets, family, and business interests effectively.
The Differences Between A Will And A Trust
There are many different ways to prepare for your future with your estate planning attorney. There are many different types of documents, plans, and decisions that you have to make when deciding how you want to distribute your estate. When looking at the options and deciding what estate plan is best for your situation, you […]
