Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.
Is there a person on the planet who doesn't love the Peanuts characters? Snoopy, Charlie Brown, Lucy, Pigpen, Schroeder, and the gang are the iconic creations of Charles Schulz. In fact, it is still so popular that they earned Schulz's estate $32.5 million over the last year, two decades since his death due to cancer.
Roald Dahl has written dozens of childhood classics, from the newly remade The Witches, to The BFG and Charlie and the Chocolate Factory. Roald is now the subject of a new drama on Sky titled Roald & Beatrix: The Tail of The Curious Mouse, which imagines the authors meeting.
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.