Kate Borgen

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Latest activity by Kate Borgen
  • Kate Borgen created an article,

    Can I create a will and trust on behalf of someone?

    Each friend or family member must have their own Tomorrow account in order to complete their legal documents. You cannot complete someone else's documents in your own Tomorrow account. Not only do ...

  • Kate Borgen created an article,

    What happens to my trust if I get divorced?

    If you get divorced or legally separated from your spouse or terminate your domestic partnership or civil union, your trust will still be in effect. To avoid any confusion, it is always best to cre...

  • Kate Borgen created an article,

    How do I transfer my house into the trust?

    If you want to place your home into your Tomorrow trust, we recommend working with an attorney who can discuss the pros and cons. They can help with any paperwork your local government needs and gu...

  • Kate Borgen created an article,

    How often should I update my will or trust?

    Changes to your will and trust can be made at any time through the app. However, every time a change is made to a document, you will need to print and execute the new version to make it legal. We e...

  • Kate Borgen created an article,

    What if I have a joint bank/savings account? Do we both need to do something to put it into the trust now?

    If you have a joint bank account and live in a non-community property state, you should not transfer it into the trust now. The surviving owner can transfer the account after the first joint owner ...

  • Kate Borgen created an article,

    Should my spouse and I have separate trusts?

    In general, if you live in a community property state, most property acquired by either spouse during the marriage (with some exceptions) is owned jointly and equally by both spouses. There are nin...

  • Kate Borgen created an article,

    What are the drawbacks of creating a trust?

    There are no drawbacks during your lifetime. After you pass away there are some expenses associated with trusts, including annual tax returns and administration costs. The Tomorrow trust (and in de...

  • Kate Borgen created an article,

    How is the trust fund distributed after the probate process?

    If you don’t transfer your accounts into your living trust during your life, your executor can manage the process for you. First they will inventory all the assets for your estate and file it with ...

  • Kate Borgen created an article,

    What happens to a joint trust when one spouse dies?

    When one spouse dies, the joint trust will continue to operate for the benefit of the surviving spouse as a “Survivor's Trust.” Any specific gifts of tangible property from the first spouse to bene...

  • Kate Borgen created an article,

    Who should be my trustee?

    Anyone you can count on to handle money wisely could be your trustee. You will want to choose someone who will act according to your wishes and make good decisions about the details of your Trust. ...