What about planning for people who are single, younger or those who do not believe they have significant assets? Everyone should have an estate plan - if not for yourself, for your loved ones.
The federal budget agreement that President Obama signed into law November 2, 2015, contains changes to how spouses can claim Social Security benefits, ending two strategies previously used to maximize benefits.
If you create a trust, you will need a separate person or institution, called a "trustee," to manage the trust either now or in the future, depending on the type of trust.