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The Caldwell Trust Company Blog

Is It Better to Have a Will or a Trust?

Posted by Gina B. Jordan, CFP® , CTFA

Planning for the distribution of your assets after death can be a valuable gift to your loved ones and it can give you much-needed peace of mind. But, should you use a will or a trust as your primary estate planning document? Which is best? As you evaluate your options, it can help to understand the benefits and potential drawbacks of each approach.

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Topics: Trusts & Estate Planning

Reasons You Need a Living Will

Posted by Donna Scaglione, FRP

Most people think of estate planning as the process of having a will and/or trust prepared. While that's an important component of the process, estate planning also involves planning for periods of lifetime incapacity. A living will is an important legal document that should be a part of everyone's estate plan. In this blog post, we will explore what a living will is, who needs one, and what to consider when documenting your health care wishes with a living will.

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Topics: Trusts & Estate Planning

Understanding the Difference Between a Legal Will and an Estate Plan

Posted by Sandy Pepper

We often get questions about legal wills and estate plans. We hope to help clarify the difference between a legal will and an estate plan and will take a look at what each provides.

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Topics: Trusts & Estate Planning

6 Ways To Mine Tax Breaks Year Round

Posted by Wendy Fishman

When it comes to tax preparation you want to find and use all the appropriate avenues that help you pay out less and keep more of your income.  To do this, it’s important to pay attention to tax planning all year round. Most tax-saving strategies must be implemented no later than December 31 of that tax year, and often well before that.

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Topics: Trusts & Estate Planning

What Happens To Your Digital Legacy When You Go?

Posted by Sandy Pepper

When developing an estate plan, there are so many elements to worry about that many people end of forgetting a whole category of assets: digital. Digital (especially social media) has become such a nuanced and integral part of our lives in such a short period of time that it becomes a blind spot. However, your digital legacy is just as important as the rest of your assets. In today’s post, we’ll give you a rundown of what you need to know before you start digital estate planning, how digital assets should be integrated into your estate plan, and why this process matters in the first place.

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Topics: Trusts & Estate Planning

6 Misconceptions About Retirement Best Practices

Posted by Tony Blasini, CPC, QPA

When it comes to retirement planning, many people in the workforce don’t really think about it. They put money into the 401k provided by their employer and focus on their financial needs in the moment. Unfortunately, this lack of true planning leads to a lot of misconceptions about retirement best practices. Here are seven assumptions you may be making about retirement, along with the reality you need to be aware of.

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Topics: Retirement Plan Services, Trusts & Estate Planning

Your Essential Estate Planning Documents to Gain Peace of Mind (Part 2)

Posted by Jan Miller

In a previous post, we discussed two essential estate planning documents that will give you and your family peace of mind, and this post follows up with three more essential documents. This blog post series will help to clarify your final wishes about everything from assets to health directives and more, providing peace of mind for you, and your heirs and loved ones.  

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Topics: Trusts & Estate Planning

Your Essential Estate Planning Documents to Gain Peace of Mind (Part 1)

Posted by Jan Miller

We know that planning for your family’s future, for after you are gone, may feel daunting on many levels. The reality is, your loved ones will be better off when you pay proper and timely attention to your estate planning now.

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Topics: Trusts & Estate Planning

The Importance of a Fiduciary: What You Need to Know

Posted by H. Lee Thacker, Jr., CFP

When it comes to protecting your assets or ensuring your wishes are carried out when you are incapable of communicating them, you can hire fiduciaries to act with your best interests in mind and make decisions on your behalf based on their knowledge and area of expertise.

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Topics: Investments, Trusts & Estate Planning

What Is the Intent Of The Settlor When It Comes To Discretionary Language Within Their Trust?

Posted by Sandy Pepper

Every family has their own unique make-up and no two are alike – each member of a family has their own separate distinctions and when planning for loved ones, creating a Statement of Intent is important not only for the trustee, but also for the Grantor’s beneficiaries. It would be nice if all families got along, all children were gainfully employed and without issue, family meetings took place and all children were fully informed of their parent’s estate plan. This is generally not the case and doesn’t happen very often. Thus it is important for a Grantor to provide some guidance to the trustees.

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Topics: Trusts & Estate Planning

 


 

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