I want to keep my affairs private, but I don’t want to give up the control that happens with some trusts. How can I maintain control and privacy?
One way is to establish a revocable living trust, a legal document that lets your beneficiaries avoid the public glare of probate. Like a will, a living trust names beneficiaries and instructs a trustee how to disburse your estate. You can change its terms any time during your life. Unfortunately, this trust won’t shield your assets from creditors or estate taxes. An irrevocable trust can achieve both of those objectives, but won’t grant you the flexibility of a living trust.
I’m ready to get new business equipment and I’m torn between leasing and buying. How do I choose?
You will have personal considerations, but we can offer some generic information that may help. Leasing is a good option if money is tight, especially if you can find a lease with a purchase option that lasts long enough for you to consider buying. Owning the equipment usually comes with tax advantages, including a choice between writing off the cost all at once or over the life of the purchase, but this can restrict your cash flow. The choice is yours.READ MORE