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Recent Posts
What Really Counts in Your Estate? (Hint: It’s Not Just What You Own)

Uncovering the lesser-known assets that could trigger estate taxes if you don’t plan ahead. When people hear the term ...

The post What Really Counts in Your Estate? (Hint: It’s Not Just What You Own) first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Avoiding the Post-Exit Pitfalls: A Holistic Approach to Entrepreneurial Success

The entrepreneurial exit is often painted as a fairy-tale ending—years of sacrifice crowned with a big check and endless freedom. Yet, the Yale School of ...

The post Avoiding the Post-Exit Pitfalls: A Holistic Approach to Entrepreneurial Success first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Creating an Integrated Plan for Generational Wealth Transfer

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The post Creating an Integrated Plan for Generational Wealth Transfer first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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For What Reasons Should I Revoke My Trust?

May 11, 2021

A revocable living trust enables the creator to make changes to that trust at any point in time prior to their death. This includes revoking the trust entirely, meaning that it becomes obsolete.

There are any different number of reasons why a person may wish to revoke a trust but the most common reasons for making this change include updates in their life. For example, a divorce might prompt someone to dissolve a trust that was previously created as a joint document with a soon-to-be former spouse.

If the changes to be made to a revocable living trust are so extensive in nature that it might simply be easier to dissolve the trust entirely and to start fresh, the creator of the trust has the ability to do this. The first step in dissolving your revocable trust is to remove all of the assets that have been put inside it. This includes changing deeds, titles, and any other legal documents to reflect ownership of the asset from the trust back to the grantor of the trust or the original owner.

It is strongly recommended that when making any changes to a revocable living trust, including the dissolution of the trust completely, that you schedule a consultation with an experienced and knowledgeable estate planning lawyer.

 


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Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting Invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
What Really Counts in Your Estate? (Hint: It’s Not Just What You Own)

Uncovering the lesser-known assets that could trigger estate taxes if you don’t plan ahead. When people hear the term ...

The post What Really Counts in Your Estate? (Hint: It’s Not Just What You Own) first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Avoiding the Post-Exit Pitfalls: A Holistic Approach to Entrepreneurial Success

The entrepreneurial exit is often painted as a fairy-tale ending—years of sacrifice crowned with a big check and endless freedom. Yet, the Yale School of ...

The post Avoiding the Post-Exit Pitfalls: A Holistic Approach to Entrepreneurial Success first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Creating an Integrated Plan for Generational Wealth Transfer

Planning for the future means more than just saving for retirement—it involves creating a strategy ...

The post Creating an Integrated Plan for Generational Wealth Transfer first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more