Avoid Generation-Skipping Trust (GSTT) Tax Pitfalls
Due to recent tax law changes, your family may be able to avoid adverse federal estate tax consequences when you leave assets to your adult children.
Strategic Philanthropy: Balancing Tax Advantages and Control with Private Foundations and Charitable Trusts
Using a private charitable foundation or a charitable trust for philanthropy can both be effective vehicles for making a charitable impact while providing tax benefits. However, each structure has its own set of advantages and disadvantages from a tax planning perspective. Here’s a comparison of the two: Private Charitable Foundation: Advantages: Control: Donors can retain […]
How Does Guardianship Work?
If you haven’t had any experience with guardianship for adults with dementia, it’s likely you don’t understand just how complex it is. You are not alone.
Can a Revocable Trust Protect Assets from Creditors?
With a revocable trust, you are typically both the founder and the trustee. This means that you both create the trust and manage its assets and operations.
IRS Announces New Lifetime and Gift Tax Exemptions
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Do I Need a Living Trust?
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
Giving is the Plan: What About a Charitable Trust?
A charitable trust can be set up in different ways and have various tax impacts. Two common types are the charitable remainder trust and the charitable lead trust. There are also variations within these categories.
What Can a Trust Do for Me and My Family?
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
What Should Not Be Included in Trust?
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries and it can significantly reduce the headaches of probate.
Should I Use a Corporate Trustee?
Revocable Living Trusts have become a widely used estate planning document, providing a path to managing assets, avoiding probate and gaining privacy at the settlement of an estate.