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Revocable vs. Irrevocable

A simple post but powerful difference. There nothing more important than how one chooses to start their day but what if one choice locks you in to starting your day with that terrible coffee you only drink when you are desperate... for the rest of life....and your kids' lives...that is an irrevocable choice...that is the difference than a revocable choice. A choice you can change. An irrevocable choice you cannot. You are stuck with that terrible coffee for the rest of your life.

Why is such a decision matter in estate planning. Well, attorneys need lots of coffee...we don't want to get stuck with terrible coffee, much less a terrible, irrevocable trust. An irrevocable trust can't be changed. (For most purposes...attorneys...like their caveats...)

A revocable trust...

An irrevocable trust.

Basic Estate Planning Documents

The package...When one...finally...decides to prepare estate planning documents, they often wonder who should I name as my trustee....just kidding...A question I get alot but not considered as part of a basic estate plan. Nonetheless, an important question that doesn't seem to have the

Juggling Too Much?

A corporate trustee can help. While they do not come with mops, they do come with help to relieve some of the juggling that comes with the position of serving as trustee of a trust. A trust must have a trustee to serve and manage the trust. A trustee has

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Basic Estate Planning Documents

Juggling Too Much?