Building and Protecting a Child’s Fortune

Posted by Ned Armand, President of Eastern Point Trust Company on Dec 17, 2015

Growing your savings

Growing and protecting your assets for your heirs has never been more simple and accessible as it is now, with Kiss Trust.

Key Takeaways

  • Look for all-in-one tools that provide a family and friends donation portal
  • Open accounts with minors listed as beneficiaries
  • Maintain control of funds with an irrevocable trust

  

Safeguard Family Donations  

Grandpa Joe and Grandma Jane did very well in life and saved a lot of money. They now wish to bestow their fortune upon their grandchildren in the form of annual gifts. With the ability to gift up to $14,000 per child tax free annually, they give a total of $70,000 each year to their five grandchildren by way of personal checks passed to their sons, Tom and Peter.

It is estimated that by age 18, each grandchild could have over half a million dollars in their accounts thanks to long-term compounded growth. At the end of each year, Grandma Jane takes out her checkbook to write a check and hesitates, wondering what actually happens to the money she gives. Does it get deposited into a savings account per their wishes? Or is it cashed and spent frivolously on toys, clothes and other luxuries? What if, during especially tight months, the check is cashed and used for groceries or even household bills?

While not every grandparent has the resources to be as generous as Joe and Jane, many enjoy the role of benefactor and love gifting money to their grandchildren. Parents should look for all-in-one affordable tools that offer a “friends and family” portal that provides reassurance to donors about where their gifted money is going.

 

Avoid Common Mistakes

Parents often open UTMA (Uniform Transfer to Minors Act) or UGMA (Uniform Gift to Minor Act) accounts for their children that list parents as custodians of an account belonging to a minor, making the child the owner, rather than the beneficiary. This significant difference means that by age 18, the child has access to all of the money, leaving the parent with no control over how the money is spent. UTMA and UGMA accounts give parents no control over the distribution of the money saved.

Affordable all-in-one plans that offer irrevocable trusts listing children as beneficiaries, rather than owners, are preferred over either UTMA or UGMA accounts. This packaged savings, investment, and trust solution enables parents to determine how money is distributed to safeguard the child’s future assets. For example, for children who elect to not attend college, parents can reallocate distribution elections to prevent having the beneficiary acquiring a lump sum windfall and spend the entire amount quickly and unwisely.

 

Contributions With Easy Access

The last thing a parent wants is to make it difficult for donors to make a contribution to a trust. An all-in-one savings trust with a friends and family portal can eliminate uncertainty and establish a schedule of gifting with a one-time gift or ongoing contribution. Look for a feature that is confidential and secure. Spare Grandma Jane the worry over the use of the money she and Grandpa Joe gift each year by opening an all-in-one savings trust.

 

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Tags: Estate Planning, Inheritance Trust, Heir

Estate Planning Tips for Baby Boomers

Posted by Ned Armand, President of Eastern Point Trust Company on Sep 17, 2015

It is now prevalent for baby boomers to begin to plan for their estate. Here are a few tips in handling estate planning, even if the estate is small.
 

Key Takeaways

  • It is crucial for Baby Boomers to start thinking about estate planning to leave their family in good financial condition.
  • Even with a small estate, anyone can now establish a retirement trust for their children and grandchildren. It can have immeasurable benefits, capitalizing on the beneficiary's distant time horizon.
  • There are many estate planning services that one can benefit from, but Kiss Trust is the only all-in-one institutional trustee with tools to create and manage a legal trust fund.

 

Why Baby Boomers?

The Baby Boomer generation is moving along into the stage of their life when they must start learning all they can about estate planning and wealth transferring to properly ensure a sound inheritance for their family. A Baby Boomer is characterized as anyone born after WWII between the years of 1946 and 1964, so chances are either you are a baby boomer yourself, or you have family members who are – and if you are, planning your estate is pressingly necessary.  

 

Tips: My Estate is Small – Should I Still Plan?

 Yes, you should – your family is counting on you. Regardless of the size of your estate, you should plan to execute a proper inheritance, as the benefits can be extraordinary. There are interesting ways to make your dollar stretch, even if you only have a few to give. Here are a few tips on how to maximize the benefits left behind by your estate:  

Establish a Retirement Trust for your Children & Give The Assets You Leave More Time to Grow

Regardless of what your children have started saving for their retirement, extra contributions outside of their IRAs, 401k, and other retirement accounts they have could diversify their savings and reward them with a financial cushion going into retirement. If the estate you are leaving behind is limited think about setting up a retirement trust for your heirs so that the assets you leave behind have more time to grow. Also, trusts can protect assets from creditors, so if they have trouble down the line and lose their savings from lawsuits, settlements, or bankruptcy, they will still have the assets in your trust to ensure that they will have something to sit on in retirement.

Establish an FAFSA Maximizing Trust

Certain qualifying trusts can maximize the amount of financial aid your grandchildren will receive. If the inheritance you are leaving behind is less than you would like, then make sure to plan your estate so that the inheritance you leave behind does not interfere with the beneficiary’s ability to access financial aid to cover costs outside of what your estate may be able to afford. With a properly constructed FAFSA Maximizing Trust, your beneficiaries will be eligible for grants, scholarships, and other aid. Every student knows that any type of cash gift goes a long way in college, and despite your trust size being smaller than you hoped for, it can be an extraordinary gift.

Use Self-Help Technology To Cut Cost

Today’s self-help technology has expanded into estate planning, and can help save tens of thousands of dollars. For smaller estates where every dollar matters, taking a little extra time to educate yourself on the current products and the benefits and limitations can make a huge difference in the size of the estate you leave behind.

 

Estate Planning Services

Kiss Trust

Historically, establishing a trust has been for the top 10%, but with innovative technology trust funds are accessible to all social classes. In fact, it is the 99% that could benefit most from utilizing the unique benefits of a trust fund when planning for the transfer of your wealth. Kiss Trust holds your hand through the process of creating a trust, asking simple questions you will know the answers to. You can pass down financial savvy when utilizing a trust, by making your heirs cognizant of wealth management and investment prudence. Attorney fees can be insurmountable if your estate is not substantial. The grantor has the ability to write a trust themselves, but the standard layperson does not have the requisites to draft a trust that can stand alone in a courtroom. Kiss Trust gives you the ability to create a professional and personalized trust fund for $49.

Rocket Lawyer
 
Rocket Lawyer is a service that connects you with thousands of specialized lawyers and attorneys. It can guide small business owners and individuals to their legal needs. Not only can you team up with law professionals from around the nation, but you can also use their self-help technology to create different types of legal documents that can stand in numerous courts.
 
Legal Zoom           
 
Legal Zoom is similar to Rocket Lawyer but on a larger scale. Legal Zoom connects seekers of professional lawyers and attorneys to one another to solve nearly all of their legal needs. Legal Zoom incorporates a systematic approach to everything from trust funds to even incorporations. Legal Zoom is considered the number one source for forming a small business without the direct help of an attorney.

Download List of Estate Planning Services

Click to download a full list of 17 estate planning services available to the public.

 

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Tags: Estate Planning

A Sleeping Trust Solution

Posted by Ned Armand, President of Eastern Point Trust Company on May 14, 2015

Sleeping trusts are a valuable asset to parents who are beginning to plan for their family's future.

Key Takeaways 

  • Sleeping Trusts do not need to be funded immediately with cash.
  • Sleeping Trusts can increase the value of your existing life insurance policy.
  • Sleeping Trusts ensure that your assets are being used well.

 

Sleeping Trusts FAQs

What Is A Sleeping Trust?

Sleeping trusts, often used by young families, are trusts that have been established with all of the terms, conditions and distribution elections established; however the bulk of the funding commonly comes at a later date – usually from the estate and life insurance. You can establish a sleeping trust with Kiss Trust.
 

Why Not Have The Trust Created After You Pass Away?

The trust creation process can be complicated. In fact, the process can take months. If you wait until you have passed, your final wishes may be lost to interpretation – or worse, it could leave the door open for fraud or abuse. You will want to take your time creating the trust guidelines, and will want to carefully review the terms of the trust, personally.
 

How Can Sleeping Trusts Improve My Life Insurance?

Every year, nearly 1% of all Americans will die of unnatural causes. Only 62% of Americans have life insurance, though it is said that about 85% need it. This means that nearly a half a million Americans will die this year with insufficient funds left for their family. For the over 1.9 million who will die with some life insurance, the question becomes how prudently will the life insurance being left to your family be used and invested? Life insurance distributions are typically made as a lump sum, and if the beneficiary is under 18, the assets may lay dormant in an account that the insurance company holds. The assets aren’t invested and lose value due to the cost of inflation. All in all, it’s a bad strategy that can solely be rectified with a little preplanning. 

 

What are some of the benefits of sleeping trusts?

  • Sleeping trusts, above all, give the grantor peace of mind.
  • There is direct control over assets, even after your death.
  • A trust document in place prior to your death ensures the greatest value of your assets.
  • Terms of the trust are predetermined, instead of being up for interpretation.
  • The trustee you selected guides your trust before, and after, your death.

 

Sleeping Trusts are the Solution   

A “sleeping trust” is a simple way to ensure that the assets you leave for your family’s needs are being invested sensibly and being spent prudently. Creating such a trust can take as little time as a half an hour, and is as affordable as a dinner out with the family. Simply, you elect to fund the trust with a small initial contribution and then tie your life insurance policy, 401k and other assets to fund the trust after your death. Rest assured, the assets will only be used for the purposes you intended and by whom you intended. No ex-spouse or other party will have access to those funds for their own desires. Personally plan and prepare your family.  You know their needs better than anyone else, so why let someone else oversee the creation of a trust for your family?
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Tags: Estate Planning, Irrevocable Trust, Trustee, Sleeping Trust, life insurance

The Solution to Affluenza: Quiet Trusts

Posted by Ned Armand, President of Eastern Point Trust Company on May 1, 2015

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Quiet Trusts are used for many different purposes, since they have many different benefits, such as being the cure to "affluenza."

Key Takeaways

  • "Affluenza" is known in the estate planning world as a symptom of large, unstipulated inheritances, in which the beneficiary is careless with their life choices due to the inheritance. This is also known as "Sudden Wealth Syndrom."
  • It can keep the size of the inheritance from the beneficiary, or beneficiaries, until the distribution date, or other specified dates written within the terms of the trust.
  • Quiet Trusts aren't always needed if proper planning, education, and your financial savvyness has been bestowed upon the beneficiary, but they are a viable resource for grantors who have inheritance inhibitions.

 

What is a Quiet Trust?

It can be any trust type in which the beneficiary is not informed of its existence until distributions are to be made. The use of quiet trusts has many benefits but primarily they are used to prevent the beneficiary’s knowledge of the trust from creating an obstacle to professional and personal development. These are very similar to sleeping trusts, but add an extra layer of protection against reckless beneficiaries until a safe date.

In many instances, when heirs of an estate are knowledgeable of their inheritance, they may feel that they don’t need to push themselves to excel in their career or simply choose not to pursue a career path.  This is often referred to as “Affluenza” or “Sudden Wealth Syndrome.”

Motivation, routine, and a self-identifying career can be keystone to a person’s self-esteem, self-worth, self-confidence, personal identity and overall happiness.

Carnagie's Philosphy on Estate Inheritances

This is nothing new, Andrew Carnegie, the 19th-century steel magnate stated, “The parent who leaves his son enormous wealth generally deadens the talents and energies of the son, and tempts him to lead a less worthy life.” Or as many say today, “Shirt sleeves to shirt sleeves in three generations.”

Quiet Trusts in Today's World

This type of trust can mitigate these concerns when passing down wealth by simply preventing the beneficiary’s knowledge of the assets until their core professional and personal habits have matured. With the rise in wealth transfer due to the aging Baby Boomer generation this strategy has been rapidly growing in popularity.

Create Your Quiet Trust Today

           

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Tags: Estate Planning, Sleeping Trust, Quiet Trust

Robo-Advisors Meets Robo-Trustees

Posted by Ned Armand, President of Eastern Point Trust Company on Apr 23, 2015

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Robo-advisors, such as Wealthfront, have been making headway lately by providing their clients with an automated wealth management service. Kiss Trust is doing the same for trust funds, making it affordable for all to establish a trust.

Key Takeaways

  • Automating financial services lowers cost, which means affordable investing and financial planning for more people.
  • Betterment, Wealthfront, Charles Schwab, and others are considered robo-advisors, are disrupting the financial planning industry by bringing affordable, automated financial planning to low income individuals.
  • Kiss Trust's proprietary, patented trust software brings low-cost, high-valued trust solutions to millions of Americans, and others across the world.


Automated Financial Services Disrupt An Entire Industry


Robo-Advisors Pave The Way For Automated Financial Planning

Robo-advisors, such as Wealthfront, have been making headway lately by providing their clients with an automated wealth management service. The service goes as far as investing a designated amount of cash into a collection of Index-based ETFs. The typical use for a robo-advisor is as an inexpensive alternative to hiring an investment advisor or broker. This technology has advanced into the trust industry.

The Only Robo-Trustee: Kiss Trust

Bundled trustee services include an intuitive, self-automated trust creation process, trust documents, lifetime fiduciary services including asset management, and institutional trustee services. Bundled trust products are not a legal service, but offer individuals the power to self-create and manage their own trust fund. With the advances in technology exploding in the personal finance sector, robo-services are becoming ubiquitous in wealth management, financial planning and estate planning.

Essentially, robo-trustees take wealth management a step further than robo-advisors. Robo-advisors assist in creating and implementing investing strategies. The account can be liquidated upon the owner’s demand. The individual is then faced with the challenges of planning for use of the assets. Preparing a will or trust, planning to minimize taxation of assets, controlling the use of those by future generations, and simply budgeting use of the assets to mitigate the dissolution of the estate are worries that arise in planning for our final estate. Using a robo-trustee eliminates those problems.

An all-inclusive robo-trustee provides a one-step solution to current financial planning needs as well as final estate planning requirements. It provides a means to trust creation, investment management, and trustee services.

As a relatively new service within the last decade, robo-trustees and robo-advisors are a disruptive force in the financial services industry. They offer the chance to create a self-service trust and institutional trustee services for a small fraction of the cost of traditional trust solutions.

See For Yourself! Compare Costs of Kiss Trust vs Your Local Attorney or Bank

 

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Tags: Estate Planning, Trustee, Financial Advisor, Wealth Management, Robo-Trustee, Robo Advisor

Inter Vivos (While Living) vs. Testamentary Trust (After Death)

Posted by Ned Armand, President of Eastern Point Trust Company on Nov 12, 2014

During final estate planning, it is all too common for an individual or even their financial advisor to pick the wrong tool for their needs.

One of the more common mistakes is choosing to create an after death trust “by your Last Will and Testament” as opposed to using a while living trust (a trust created by the Grantor while still living).

Testamentary Trust

Inter Vivos Trust, Testamentary Trust, Kiss Trust

The terms of your “Last Will and Testament” may create a testamentary trust by prescribing the terms and conditions of how the trust will be formed with the remainder of your post mortem estate. These after death trusts usually handle the distribution of a deceased individual’s (the settlor) life insurance proceeds and the remaining assets of their estate. Usually, these trusts are formed for the benefit of the deceased’s children and one or more of these testamentary trusts can be “willed” or appointed by the settlor.

A testamentary trust is created after the death of the settlor. The settlor's "Last Will and Testament" executor will appoint a trustee to administer the assets in the trust(s) until the beneficiary (ies) take(s) over or the assets are exhausted inside the trust(s).

Testamentary Disadvantages

Shortfalls of a testamentary trust are:

  • Probate court is directly involved in settling the estate prior to the assets being transferred into the trust. This can result in significant legal fees, penalties, and the process can last for months or even years depending on the circumstance of the settlor’s final estate.
           
  • Having your wishes codified in a trust once you have passed leaves significant room for error and misinterpretation by your executor.
           
  • Provides an opportunity for favoritism or self-dealing by the executor.
           
  • Can create unneeded family tension.

Inter Vivos Trust

An inter vivos trust is created during the grantor’s lifetime and may “sleep” alongside their Will until their passing.

Inter Vivos Advantages

Advantages of Inter Vivos Trusts are:

  • Ensures the trust is drafted exactly as you wish.

  • Avoids the probate process.

  • Reduces the burden, stress and workload on your family and executor.

Keeping Others in Mind

By preventing the estate from being subject to probate, you can save your family members from a lengthy and costly process and also protect their interests by controlling the distribution of your assets in a defined and private manner. Additionally, by preparing in advance, you ensure that the trust contains the exact terms and conditions you intended to create for your heirs, and that they are in place and not open to error, manipulation or misinterpretation by your executor.

You now have the necessary information to know what would work best for you and your family. To further assess which type of trust is best for you download our Inter Vivos Trust Assessment Checklist below!

Download Your FREE Inter Vivos Trust Checklist

 

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Tags: Estate Planning, Testamentary Trust, Inter Vivos Trust

Advisor Series #3: Revocable Living Trusts – Unseen Risks

Posted by Ned Armand, President of Eastern Point Trust Company on Nov 5, 2014

Today it is almost automatic for financial advisors to create “Revocable Living Trusts” (RLT) for their clients along with a “Durable Power of Attorney” (DPOA). 

Durable Power of AttorneyRevocable Living Trust, Irrevocable Trust, Kiss Trust

The DPOA is designed to address the circumstances of clients who no longer may have the capacity to act for themselves. For example, if an otherwise healthy person is in an accident and left incapacitated, temporarily or permanently. In such an occasion, the DPOA ensures that you have already chosen an “agent” and given them broad powers to act on your behalf, and in your place. Additionally, a DPOA usually indemnifies the person acting as your agent against any resulting liability arising from their actions. 

DPOA and RLT Combination

The combination of a DPOA and RLT arrangement can work with no issues when the spouse and/or family of your client cares for, protects, and preserves your client's intentions. Unfortunately, not every family fulfills this promise. 

So long as both spouses are alive and competent, any actions (changing or revoking the trust, purchasing or disposing of assets) will necessitate both spouses’ approval. The unseen risk arises when one spouse dies or becomes incompetent, the other spouse may act alone. In blended family circumstances, there are instances where this power has been abused to the detriment of the incapacitated spouse’s heirs from the prior marriage. 

Impaired Spouse Risk

Consider now the situation where one spouse is previously deceased and the surviving spouse develops a lack of capacity. Now, the DPOA is triggered and the person (agent) holding the DPOA has the power to change or revoke the RLT, or use, purchase or dispose of the RLT's assets unilaterally. 

A Better Design

While an RLT and DPOA are powerful tools, there are better design alternatives than the two of them combined. Consider this alternative design: Upon the first spouse becoming incapacitated or upon their death, the RLT is set to “Pour-Over” all of the RLT assets into an irrevocable trust with a “Spousal Support” provision. This three-part design will ensure that neither the other spouse nor the DPOA agent will be able to misuse the assets of the trust, whether by neglect, incompetence or intent. 

Also, we all know that there is often a material lag between the time that a previously capable widowed spouse may start showing signs of incompetence and the point where their ability to act is removed from them – during this time many bad financial decisions, often irreversible, may occur. This risk is compounded by unscrupulous people who seek to take advantage of such situations. However, with the Pour-Over design, only the spousal support portion of the trust could be accessed by the spouse, or anyone else, and the other provisions of the trust remain secure. 

In Conclusion

Revocable Living Trusts are powerful tools to avoid probate and protect the privacy of clients. However, RLTs have shortfalls that should be carefully considered. 

Designing your client’s RLT with a Pour-Over features into a pre-established “Sleeping Irrevocable Trust” will ensure your client’s intentions are fulfilled and eliminate many potential risks left open by an RLT and DPOA alone.

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Tags: Estate Planning, revocable trust, Financial Advisor

5 Reasons an Inheritance Trust is Better Than an Outright Inheritance

Posted by Ned Armand, President of Eastern Point Trust Company on Oct 29, 2014

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Trusts are not just for the wealthy and there are many reasons why disbursing your final estate to your heirs through an Inheritance Trust is preferable to a Will.


 

What is an Inheritance Trust?

An Inheritance Trust is an irrevocable trust and is like a Will, in that it allows you to stipulate who receives your final estate and in what proportion. However, unlike a will, the Inheritance Trust also allows you to set rules about “when and how” the assets you leave behind may be used. For example; you may design the trust to limit the use of assets to educational funding, 

he following are five of the most important reasons to consider a trust to manage your final estate, or for a first time home purchase, or to provide a series of scheduled income payments over time.

1) Control of Use

A Will provides no ability to control when or how the assets you leave behind are used. A trust allows you to set rules (terms and conditions) about when the heir(s) may receive the money and how the money may be used. Also, a trust can set bonus or penalty provisions to reward certain behaviors (i.e. getting married or obtaining an MBA). Additionally, a trust can include penalty provisions for unwanted behaviors such as substance abuse or criminal activity.

2) Protection from Claims of Ex-spouses

A trust also provides the ability to protect the assets you leave behind so that they are never subject to the claims of a current or future ex-spouse of the beneficiary. For the married or unmarried beneficiary, the assets in a trust are in effect an automatic prenuptial agreement as the assets are segmented, and cannot become community or marital property.

3) Creditor Protection

A properly designed trust can also provide creditor protection to both the beneficiary and grantor and thus prevent any current or future creditor from attaching the beneficiary’s inheritance.

4) Prevent Squandering of Inheritance

A recent T. Rowe Price study showed the average inheritance in America lasts only 90 days. A trust can prevent the beneficiary from economic folly that might otherwise occur by limiting access and restricting how the money may be used – something no Will can accomplish.

5) Multi-Generational Benefits

If your final estate is in a trust, it can be designed to benefit not only the current generation of heirs, but also the future generations of your heirs. Legacy provisions can provide for new family members to also benefit from your final estate – a feature that Wills are unable to accommodate.

Summary

Managing your estate in an irrevocable inheritance trust can provide benefits that cannot be accomplished in any other manner. The key for an effective trust is a well thought out trust design. There are now easy to use and cost effective online solutions available that can assist you in planning the disposition of your final estate and designing your trust. 

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Tags: Estate Planning, Irrevocable Trust, Inheritance Trust

Understanding the Blended Family Trust

Posted by Ned Armand, President of Eastern Point Trust Company on Oct 20, 2014

How to protect your estate 

New Beginnings

Remarrying creates distinctive challenges for both financial and estate planning. 

New couples may have children from prior marriages, and/or children together. In addition they may bring their own property and assets into the relationship. 

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Challenges Arise

A big challenge with financial planning for blended families can be providing support for your new spouse's ongoing living requirements, while you ensure that your remaining assets will ultimately go to your children. 

Hoping your current spouse and children will "work it out" after your death is not a reasonable plan. The good news - a Blended Family Trust is the perfect resource to solve the problem. 

Everyone is Different

Blended families need a financial and estate plan that fits their unique situation. Without a Blended Family Trust you have no way of making sure that what you want to happen will actually happen. 

Wishes often change based on which spouse is the first to pass away, so review each possible scenario. 

Also, be sure you update all beneficiary designations on your insurance policies, IRAs, 401ks or other retirement accounts. It is easy to forget to update your beneficiary designations into the trust! 

Plan for the Road Ahead

Leaving your assets to the surviving spouse with no limits on the changes they make after your death, is not the wisest approach. Learn about Blended Family Trust tools that can help you achieve your goals.

Without a family trust designed for blended families, you have no assurance that your children will ultimately receive their full benefit from your estate. 

Solutions

As a result, blended families often use Blended Family Trusts to provide support for a spouse, while ensuring the children receive their fair share of the remaining property. 

Keep reading here for even more information on using a Blended Family Trust

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Tags: Blended Family Trust, Estate Planning

Blended Family Trust Solutions

Posted by Ned Armand, President of Eastern Point Trust Company on Oct 8, 2014

Tom Clancy’s blended family is facing Clear and Present Danger while they fight over his estate. 

Failure to properly plan and construct Tom Clancy's blended family’s trust has caused family tensions and looming legal battles. Wealth Management Magazine commented on the subject:

Blended Family Trust | Kiss Trust “Planning an estate for a unified, communicative family is a difficult-enough undertaking, but introducing variables like multiple spouses and half siblings puts enormous pressure to be clear and precise in the drafting language they use to avoid intra-family conflict down the line.”

Blended families have greater estate planning risks. 

For the traditional family, estate planning is usually accomplished by both spouses with coordinated and shared objectives. However, with a blended family there are often competing interests and interfamily rivalries that demand a new approach to planning that balances each spouse's interest.

With up to 50% of marriages ending in divorce the rates of blended families have risen, so too have the planning issues associated with blended families. Often the wishes of the dying spouse are subordinated by the surviving spouse, usually to the detriment of the first spouse’s heirs. 

A blended family trust can be a solution. 

A properly constructed blended family trust is a powerful tool to ensure the wishes of both spouses are preserved and that future changes will not benefit one set of heirs at the expense of the other set.

Family members as trustees can be a mistake. 

Also, having an experienced institutional trustee is a key element to ensure that the terms of a blended family trust are enforced uniformly. In particular with a blended family estate trust, non-professional or family member trustees often succumb to their family biases in administrating the trust. This may lead to the original intent of the trust not being properly fulfilled.

Benefits of a blended family trust. 

A properly constructed blended family trust can be a powerful tool that:
  • ensures the wishes of both spouses are fulfilled

  • prevents future changes that would benefit one set of heirs at the expense of other heirs

  • reduces family strife and avoids family-on-family litigation

Using a trust designed to address blended family estate planning issues, like a Kiss Trust, can avoid the many pitfalls of blended family estate issues. 

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Tags: Blended Family Trust, Estate Planning

Kiss Trust

Creating a Trust
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Kiss Trust is the only patented total trust solution in America. Kiss Trust Is a self-help trust creation tool with integrated trustee services and access to over 5,000 mutual funds, 1,000 ETFs and a brokerage account with stocks and bonds. Kiss Trust lets you create a powerful custom irrevocable trust without the expense and trouble of hiring an attorney.

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