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How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

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What Is the Value of a Relationship Between a Beneficiary and a Trustee?

January 9, 2019

Selecting someone to serve as a trustee over this popular estate planning strategy is important because this individual might have regular and ongoing contact with your beneficiaries and loved ones. trustee-beneficiary-NJ

As a result of this direct contact and the need to have open minds of communication between beneficiaries and trustees, it’s a good idea to appoint someone who is familiar with all the roles that they must play in serving as a trustee.

If your beneficiaries are likely to be dependent to some degree on the trustee for support, it is even more important that you select someone that everyone is comfortable with.

Most people will have someone in their family who possesses the skills to be an effective trustee. The more dependent the beneficiary will be on the trust, however, the more independent that trustee should be.

A trustee and beneficiary’s relationship is forever altered if there are problems in the disbursement of funds or disagreements over the relationship in terms of the trust. This relationship can be forever altered and not always for the better if you select someone who is not independent from the trust itself. This can lead to difficult family conflicts and even possible litigation and is a leading reason why you might want to choose an independent party to serve as your trustee.

 

[End of transcript]


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can be of assistance.

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Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more