LIVING TRUST ESSENTIALS WHAT TO INCLUDE AND WHAT TO AVOID If you read our article on page two and are considering establishing a living trust, you may wonder which assets you can and can’t place within it. The good news is that you can put basically anything into a trust, including bank accounts, vehicles, stocks, retirement accounts, and more. However, just because you can place something into a trust doesn’t mean you should. Certain items could make things more difficult for your loved ones if placed in a trust. Many consider including their vehicles in their living trust, but this can quickly become messy. The trust has to articulate who can drive or use the car, and if you name all of your children, things could become complicated if they all want the vehicle at the same time. If you have a collectible car, it’s a different story, but in most cases, you’re better off leaving vehicles out of trusts.
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trust will count as cashing it out, leading to extra taxes and a potential penalty for withdrawing early. A good way to get around this is by naming your trust as the beneficiary of your retirement accounts, as this will give you more control over how the funds are divided and distributed. Most other assets are worth including in your living trust. Most people’s largest asset is their home, and putting it in a trust protects it from creditors. Stocks are another asset you should consider placing in your trust. Many people say they don’t know if it’s a good idea, but transferring your stock to your trust will help avoid probate and grant privacy. You can determine who receives the stock certificate or if you want specific individuals to gain proceeds from the stock. Placing it in a trust will also help diminish the opportunity for family quarrels over who receives the stock certificate.
A retirement account is another asset to be cautious about including in a trust. There is a chance that transferring your retirement account to your
If you have any questions about which items to place in a trust or need any help with your estate plan, call us today!
Teriyaki Beef Skewers
TAKE A BREAK
Inspired by AllRecipes.com
INGREDIENTS •
1 1/2 cups light brown sugar
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3 large garlic cloves, chopped
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1 cup soy sauce
1/2 cup pineapple juice (optional)
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4 lbs boneless round steak, cut into 1/4-inch-thick slices Bamboo skewers soaked in water
• •
1/2 cup water
•
1/4 cup vegetable oil
DIRECTIONS 1. In a large bowl, whisk brown sugar, soy sauce, pineapple juice, water, vegetable oil, and garlic together. Drop beef slices into the mixture and stir to coat. 2. Cover bowl with plastic wrap and marinate in the refrigerator for 24 hours. 3. Remove beef from marinade, shaking to remove excess liquid. 4. Thread beef slices on skewers in a zig-zag pattern. 5. Preheat grill to medium heat and lightly oil the grate. 6. Cook beef skewers for about 3 minutes per side until the meat is cooked through.
ADVENTURE BAREFOOT
HIKING JUNETEENTH PARK PICNIC
PRIDE SANDALS SUNBURN VOLUNTEER 3 740-314-4829
FATHER GEMINI
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