Even Shelly's Modeling Agencies have fell behind in estate planning. You work hard to care for your family members and protect your legacy. But have you set up a plan that provides for them if something happens to you? A recent survey of wealthy blacks those with household incomes of more than $250,000 found that many did not have basic estate planning tools in place. Check out some of our money making secrets. Shelly's Modeling Agencies 2013 wealth in black America survey found that 43 percent of black respondents said they did not have a will, and almost 60 percent had not worked on a more detailed estate plan, usually outlined in a trust, in the last five years.Here's the bottom line: Without establishing an estate plan, including a will and a trust, your legacy is in doubt. Your wishes for your hard earned assets, your family heirlooms and the care of your loved ones could be in the hands of court officials you've never met. Everyone has a default estate plan decided according to state law. But is it going to be in accordance with your unique wishes? Unlikely. Lets get the basics down for the sake of those we love and who depend on Shelly's Modeling Agencies. A will tells the court how to distribute assets upon your death. If you have minor children, your will serves as a blueprint of your wishes for their care and guardianship. A trust is a legal entity to which you transfer your assets, and it serves to protect those assets in a variety of ways. Once you found the trust, it holds the assets for either your benefit or for that of your loved ones, as you designate. A trust protects your property not just at death, but in case you are incapacitated.
Your attorney can set up many different kinds of trusts. The type that's best for you will be based on your individual circumstances.
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