Pet trusts have been around for decades, but they’ve been gaining in popularity the last few years. In fact, they’re now available anywhere in the country. This brief article explains how a pet trust works....more
We are pleased to present the Year End 2019 issue of Insight on Estate Planning We encourage you to read through it for ideas about ways you can minimize taxes on your estate and maximize its value for your loved ones.
In...more
12/4/2019
/ Estate Planning ,
Grantor Trusts ,
Income Taxes ,
Nongrantor Trusts ,
Pets ,
Roth Conversions ,
Roth IRA ,
Tax Cuts and Jobs Act ,
Trusts ,
Year-End Planning ,
Year-End Tax Planning
Pet owners in all 50 states can now make provisions for their animals through a trust. This “pet trust” allows owners to set aside funds for the animal’s care. After the pet dies, any remaining funds are distributed among...more
Gift giving made easy -
Annual exclusion reduces your taxable estate -
How can you reduce the size of your taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts...more
10/3/2016
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Individual Retirement Account (IRA) ,
Penalties ,
Pets ,
Power of Attorney ,
Required Minimum Distributions ,
Tax Exemptions ,
Trusts
Generally, trusts must have one or more human beneficiaries, but there’s an exception for certain “purpose” trusts. One popular type of purpose trust is a charitable trust. But don’t overlook the noncharitable purpose (NCP)...more