A retirement annuity is a type of investment which provides you with cash flow. There are many different kinds of annuities, and many seniors will choose annuity products because they like the reliability of the income that an annuity can provide. However, before you make the decision that an annuity is right for your purposes, [ ] The post Is a Retirement Annuity Right for You? appeared first on Nirenstein, Horowitz & Associates P.C..
A trust is a type of legal device that is used in the field of estate planning, and there are multiple different types of trusts. Contrary to a widely held belief, every trust is not an asset protection trust. One major distinction between trusts is the power of revocation, and this has everything to do with asset protection capabilities. There are trusts that can be revoked or dissolved, and there are also irrevocable trusts. Let s examine the details. Revocable Living Trusts Revocable living trusts are very popular, and you could potentially benefit from the creation of a revocable living trust even if you are not extraordinarily wealthy. As the name would indicate, you can revoke this type of trust, so you could change your mind, dissolve the trust, and walk away with the assets back in your pocket. You will probably never want to revoke the trust, because you would be creating it as the centerpiece of your estate plan, but you do not have to worry about losing control while the tr
Just about everyone has heard of the basic estate planning document called a will or last will and testament. This is a document that you can use to record your final wishes with regard to the distribution of your monetary resources. Before we look into the other types of wills that are used in the field of estate planning, we should point out the fact that a will is not always the best choice. There are various different trusts that can be used, and in many cases, a trust of some kind would be a better option. The ideal tool will depend upon the circumstances. If you discuss all of your options with a licensed estate planning attorney, you can go forward in a fully informed manner and ultimately create a custom crafted estate plan that ideally suits your needs. Now let s look at some of the other wills that are often utilized. Living Wills There is another type of will called a living will. This document has nothing to do with financial matters. You state your preferences regarding t