Michelle Deisch

Michelle Deisch

Hardcore bacon buff. Typical food maven. Bacon fan. General pop culture enthusiast. Proud travel evangelist.

45 Posts Written
What are the disadvantages of putting your house in a trust?

What are the disadvantages of putting your house in a trust?

While putting your house in a trust has many benefits, there are also some downsides. On the one hand, setting up a trust ...

At what net worth should you have a trust?

At what net worth should you have a trust?

Basic Estate Planning Should Begin with a Will. However, wills do not cover all possibilities and may not be the best...

What is the downside of a living trust?

What is the downside of a living trust?

No Asset Protection: A living revocable trust does not protect assets from creditors reach. It takes administrative work: ...

What are 3 advantages of a trust over a will?

What are 3 advantages of a trust over a will?

However, there are some distinct advantages to using a trust instead of a will, Privacy. A distinct advantage of using a...

What are the disadvantages of a trust fund?

What are the disadvantages of a trust fund?

Some charge a percentage of the value of assets under management, while others charge per transaction. A final...

How do trust funds pay out?

How do trust funds pay out?

The trust can pay a lump sum or a percentage of the funds, make incremental payments over the years, or even make...

Why use a trust instead of a will?

Why use a trust instead of a will?

A Living Trust Can Help You Avoid Probate in Michigan, But a Will Doesn't. A living trust is a private document that does ...

Is a trust more powerful than a will?

Is a trust more powerful than a will?

Considerations for Using Trusts Trusts are frequently used in estate planning. Living trusts created during the life of...

What are the advantages of trust over wills?

What are the advantages of trust over wills?

Trust administration does not involve a waiting period, which means that your beneficiaries have much quicker access to...

Why use a trust rather than a will?

Why use a trust rather than a will?

Trusts are frequently used in estate planning. Living trusts created during the life of the grantor facilitate the...

What are the advantages and disadvantages of a trust over a will?

What are the advantages and disadvantages of a trust over a will?

In general, the disadvantages of a trust are significantly offset by the numerous advantages that are created by having a ...

What is better a trust or will?

What is better a trust or will?

The difference between a will and a trust is when they come into action. A will sets out your wishes for after your death.

How long does it take to get money out of your trust fund?

How long does it take to get money out of your trust fund?

In the case of a good trustee, the trust must be fully distributed within twelve to eighteen months after the start of...

What are the disadvantages of a trust?

What are the disadvantages of a trust?

One of the downsides of a trust is the extra paperwork. For a living trust to be effective, you must ensure that...

What is the main advantage of a trust?

What is the main advantage of a trust?

In general, the disadvantages of a trust are significantly offset by the numerous advantages that are created by having a ...

Why would a person want to set up a trust?

Why would a person want to set up a trust?

A trust allows you to be very specific about how, when and to whom your assets are distributed. On top of that, there are ...

What are the pros and cons of a trust?

What are the pros and cons of a trust?

Advantages and Disadvantages of a TrustAvoid Probate Court. Your personal and financial affairs remain private.

What happens when you inherit money from a trust?

What happens when you inherit money from a trust?

The trust itself must report income to the IRS and pay capital gains taxes. You must distribute the income earned on the...

Which is stronger a will or a trust?

Which is stronger a will or a trust?

Although both wills and trusts are legal documents for managing your estate, they are created under different laws....

At what net worth do i need a trust?

At what net worth do i need a trust?

Basic estate planning should begin with a will. However, wills do not cover all possibilities and may not be the best...

What is the main purpose of a trust?

What is the main purpose of a trust?

Trusts are established to provide legal protection for trust assets, to ensure that those assets are distributed in...

What assets cannot be placed in a trust?

What assets cannot be placed in a trust?

Assets that can and cannot go to revocable trustsReal Estate. You can change the title of qualifying retirement accounts, ...

What assets should not be placed in a revocable trust?

What assets should not be placed in a revocable trust?

Assets that can and cannot go to revocable trustsReal Estate. You can change the title of qualifying retirement accounts, ...

What is the difference between trusts and wills?

What is the difference between trusts and wills?

A will is a legal document that explains how you want your affairs handled and your assets distributed after your death....

Why put your wealth in a trust?

Why put your wealth in a trust?

The main purpose of a trust is to transfer assets from one person to another. Trusts can have different types of assets.

How much money is usually in a trust?

How much money is usually in a trust?

Less than 2 percent of the U.S. population receives a trust fund, usually as a means of inheriting large sums of money...

Is it worth having a trust?

Is it worth having a trust?

A trust allows you to be very specific about how, when and to whom your assets are distributed. On top of that, there are ...

What is the disadvantage of having a trust?

What is the disadvantage of having a trust?

One of the main drawbacks of using a trust is the cost required to establish it. In most cases this requires legal...

What are the pros and cons of trust?

What are the pros and cons of trust?

Advantages and Disadvantages of a TrustAvoid Probate Court. Your personal and financial affairs remain private.

How do wills and trusts differ?

How do wills and trusts differ?

A will is a legal document that explains how you want your affairs handled and your assets distributed after your death....

Is a trust stronger than a will?

Is a trust stronger than a will?

While both wills and trusts are legal documents for managing your estate, they are created under different laws. Trusts...

Is a trust worth the money?

Is a trust worth the money?

Trusts are often wrongly associated with people who might have higher net worth, but trusts aren't just for rich people....

What are the pros and cons of having a trust?

What are the pros and cons of having a trust?

Advantages and Disadvantages of a TrustAvoid Probate Court. Your personal and financial affairs remain private.

What are the pros and cons of a will versus a trust?

What are the pros and cons of a will versus a trust?

For small properties with easily transferred assets and simple legacies, a will may be the most economical and efficient...

Why do rich people put their money in a trust?

Why do rich people put their money in a trust?

To prevent the legalization of inheritance by court order and preserve privacy. Protect the trust assets of beneficiaries ...

What happens when money is put in a trust?

What happens when money is put in a trust?

Putting money into a trust allows you to pass ownership to someone in a structured way, where you can impose rules. For...

Who holds money in a trust?

Who holds money in a trust?

Trust funds include a grantor, a beneficiary and a trustee. The grantor of a trust fund may establish conditions for the...

What are the negatives of a trust?

What are the negatives of a trust?

Switching assets to a revocable trust will not save income or estate taxes. While assets held in an irrevocable trust are ...

What are the pros and cons of setting up a trust?

What are the pros and cons of setting up a trust?

Advantages and Disadvantages of a TrustAvoid Probate Court. Your personal and financial affairs remain private.

Why create a trust instead of a will?

Why create a trust instead of a will?

Trusts are frequently used in estate planning. Living trusts created during the life of the grantor facilitate the...

Does a trust fund make money?

Does a trust fund make money?

The amount of money in a trust fund will vary depending on the trust creator, the type of trust, and the growth of the...