Can a trust be part of an estate? Yes, assets within a trust can be part of an individual's broader estate plan but are managed separately from other estate assets. 14 Why might someone choose to create a trust instead of a will? For privacy, to avoid probate, and to have more contr...
A will, formally known as a testament, is a legal document that outlines how a person's assets and estate will be distributed upon their death. It becomes effective only after the person's death. On the other hand, a trust is a legal entity created to hold assets, with a trustee manag...
But wills are typically much less expensive to create than trusts. And it’s important to remember that you don’t have to choose between a will and a trust. Estate planning often includes a combination of wills, trusts, powers of attorney, medical directives and more. What is a living wi...
Disintermediation refers to the process of removing a middleman from any transactions between different parties. An example of this process is Apple which sells most of its products directly to consumers from its own Apple retail centres, thus eliminating ...
There is no difference between renting and buying I would argue that theoretically there doesn’t have to be any economic difference between renting and buying. Ideally both renters and home owners should be invested in equities and real estate and will benefit if either investment class does well...
“Importantly, most remodelling projects will require planning approval, where most renovations will not. This will also have an impact on timelines and expenses,” Goslett highlights. Not only does understanding the difference between renovating and remodelling help homeowners plan accordingly and set re...
“What is the difference between contract asset and an account receivable? I know that contract asset is a new term under IFRS 15, but I just don’t understand when we should account for a contract asset and when to account for a trade receivable. Isn’t it the same?” IFRS Answer: ...
7. Collaboration between Creativity and SEO Strategies Creativity and search engine optimization (SEO) go hand in hand in the digital ecosystem. Effective content must be visually appealing and emotionally resonant and optimized for search engines. Incorporating relevant keywords, including “formation mark...
Individuals who die without a will are subject to their state'sintestacylaws. Intestacy entails probate court processes, time, and professional fees that could be lesser if you die leaving a will and a well-designed estate plan.1A probate court will appoint an administrator to manage the estate...
estate plan meets the unique needs of the individual establishing the plan, each has its limits. Trusts allow assets to be passed in exactly the way you choose, and, in some cases, avoid probate. However, they take resources to set up and maintain, and they aren't appropriate...