There’s no question that creating an estate plan can be a major undertaking. But finally putting all the pieces of your plan together can bring peace of mind. However, it’s beneficial to take the next step and talk to your...more
There’s a good chance that your estate plan includes a revocable trust — sometimes known as a “living trust.” This type of trust can help your estate avoid probate, guard your privacy and provide protection in the event...more
When it comes to estate planning, addressing all your assets should be a priority. However, certain assets require greater attention than others. For example, if your assets include unregistered securities, such as restricted...more
2/20/2024
/ Asset Class ,
Disclosure Requirements ,
Estate Planning ,
Financial Institutions ,
Grantor Retained Annuity Trusts (GRATs) ,
Hedge Funds ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Company Act of 1940 ,
Investors ,
Private Equity ,
Public Offerings ,
Restricted Stocks ,
Secondary Markets ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Trading Platforms ,
Trustees ,
Trusts ,
Unregistered Securities
You might have several goals you’d like your estate plan to achieve. They may include giving to your favorite charity and leaving a significant amount to your loved ones under favorable tax terms. One estate planning...more
If you own your principal residence, you may be able to benefit from its build-up in equity, realize current tax breaks and pocket a sizeable tax-exempt gain when you sell it. What’s more, from an estate planning perspective,...more
10/6/2023
/ Beneficiaries ,
Equity ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Income Taxes ,
Irrevocable Trusts ,
IRS ,
Qualified Personal Residence Trust ,
Tax Exemptions ,
Tax Incentives ,
Trustees
Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at a minimum or zero tax cost. Of course, a will is a good starting...more
At the very least, your estate plan should include a legally valid will governing the disposition of assets upon your death. But comprehensive estate planning often goes much further....more
A family with a disabled child faces difficult planning challenges. For many years, the most effective estate and financial planning tool for parents of a disabled child was a special needs trust (SNT). This trust type...more
Let’s assume you have a legally valid will but you’ve decided that it should be revised because of a change in your family’s circumstances. Perhaps all you want to do is add a newborn grandchild to the list of beneficiaries...more
The best laid plans can go awry. Consider the estate plan you may have carefully crafted by taking into account the needs of your family members. After you’re gone, events may transpire that you hadn’t anticipated or couldn’t...more
Generally, estate planning advisors recommend that you be upfront with family members about how you plan to divide your assets. For example, you might hold a family meeting or write a letter to accompany your will. However,...more
It’s important to name executors and trustees who can provide the necessary expertise in handling assets and duties. This article details the duties of an executor and a trustee. A sidebar explains the need to name successors...more
Inside this Issue:
- Executors and trustees: The name game
- What are the benefits of a durable power of attorney?
- Digital assets and your estate plan: This asset type requires special planning
- ESTATE PLANNING...more
Generally, the proceeds of one’s life insurance policy are included in their taxable estate. A person can remove them by transferring ownership of the policy, but there’s a catch: Wait too long, and one’s intentions may be...more
Generally, the logical place to establish a trust is in one’s home state. However, for a variety of reasons, that may not be the best option. One may be better off establishing the trust in a different jurisdiction. This...more
Charitable remainder trusts (CRTs) have been around for decades, and they continue to be a viable estate planning strategy in the wake of the Tax Cuts and Jobs Act and other recent tax legislation. This article details how a...more
A person doesn’t have to hold onto assets until the day he or she dies with the hope that heirs will change their ways by that time. Instead, consider using a spendthrift trust that can provide protection, regardless of how...more
Dynasty trusts have nothing to do with the popular soap opera from the 1980s, but everything to do with leaving a lasting legacy. Although this type of trust is often created to reduce estate taxes, it can also provide other...more
A traditional trust can sometimes create a conflict among the lifetime and remainder beneficiaries. This makes it more difficult for an estate plan to achieve its objectives and places the trustee in a difficult position. The...more
Even though one may appoint a trustee to oversee distribution of a trust’s assets, it’s possible to go a step further by appointing a trust protector. This person will serve as an overseer of the trustee’s actions. Taking...more
In This Issue:
- Saving for college is also good for your estate plan
- Will your estate plan benefit from a trust protector?
- Charitable deductions: Substantiate them or lose them
- Estate...more
In This Issue:
- How to fund long-term care insurance with a tax-free exchange
- Should a CRT be part of your estate plan?
- The key to an effective trust is education
- Estate Planning Pitfall:...more