MEREDITH | PC

When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. This individual ideally should be someone you trust implicitly; someone who is organized, responsible, transparent, and meticulous; and someone […]

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order. Key Takeaways […]

Being named as a successor trustee in someone’s revocable living trust document can be considered a great honor. But with that honor comes responsibility. Whether you were appointed to this role due to someone’s death or incapacity, we are here to assist you with understanding your role in the trust administration process and to offer you support each […]

When you create a living trust, you must name a successor trustee to take over for you if you are unable to act due to incapacity or death. It is crucial that this decision be given careful consideration and that the right person be selected for the job. Role of Successor Trustee If you become unable to manage […]

If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one. An inheritance received outright could negatively impact your loved one if he or she is currently receiving […]

One of the most common forms of property ownership in the United States is joint tenancy with rights of survivorship (JTWROS or joint tenancy). But what is joint tenancy? Joint tenancy is a legal right to property that provides the owner an undivided right to the enjoyment of the property. In other words, one joint tenant cannot legally […]

You just found out that your favorite aunt, Aunt Melba, has died. In the midst of your grief and sadness, you receive a notice from the attorney handling Aunt Melba’s affairs stating that you are a beneficiary. Your best friend advises you to get an attorney. What should you do? Will Aunt Melba’s attorney help you? After all, […]

As the world becomes more of a global community, it is no longer uncommon for married couples to maintain different citizenships. While a difference in citizenship alone can present complexities from an everyday tax perspective, another set of challenges arises when a noncitizen spouse separates from the US spouse, returns to live in the noncitizen spouse’s home country, […]

For decades, common financial planning wisdom has encouraged almost all American workers to maximize their contributions to qualified retirement accounts. Indeed, doing so can be a powerful way to reduce your current income tax liability, grow your savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and large, this is what […]