When Should You Update Your Estate Plan?
If you haven’t recently reviewed your estate plan, there may be multiple reasons to do so now.
When Should You Update Your Estate Plan? Read More »
Estate Planning
Making Health Care Decisions While You’re Still Healthy Benefits You and Your Family
Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. This includes having a plan for making critical medical decisions in the event you’re unable to make them yourself.
Making Health Care Decisions While You’re Still Healthy Benefits You and Your Family Read More »
Is a QTIP Trust Right for Your Blended Family?
As a spouse and parent, you have the challenge of ensuring your spouse is provided for after your death while making certain there are assets left for your children’s inheritances. A qualified terminable interest property (QTIP) trust may be the answer.
Is a QTIP Trust Right for Your Blended Family? Read More »
Pairing a Living Trust With a Pour-Over Will Can Help Cover All Your Assets
The benefits of using a living trust are many. Pairing it with a pour-over will can help wrangle any loose assets that you purposely (or inadvertently) didn’t transfer to the living trust.
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Planning on Making Year-End Gifts? Take Advantage of Your Gift Tax Annual Exclusion
Year-end gifting guide: how to use the $19,000 annual exclusion, when Form 709 is required, how split gifts work, and how to coordinate with the lifetime exemption.
Planning on Making Year-End Gifts? Take Advantage of Your Gift Tax Annual Exclusion Read More »
Boost Your Tax Savings by Donating Appreciated Stock Instead of Cash
Are you charitably inclined and looking for a powerful year-end tax-saving strategy?
Boost Your Tax Savings by Donating Appreciated Stock Instead of Cash Read More »
A Quiet Trust Has Its Benefits, but an Incentive Trust May Be a Better Option
Considering a quiet (silent) trust? Learn when delayed disclosure helps, where it can backfire, and how incentive trusts with thoughtful discretion may better align with your family’s goals.
A Quiet Trust Has Its Benefits, but an Incentive Trust May Be a Better Option Read More »
Is a Custodial Account Right for Your Family?
Weigh the pros and cons of UGMA/UTMA custodial accounts versus new Trump Accounts, including control, tax treatment, penalties, and education-planning tradeoffs to decide what fits your family’s goals.
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Should a Living Trust Be Part of Your Estate Plan?
As its name suggests, a living trust (also known as a revocable trust) is in effect while you’re alive. It’s a legal entity into which you title assets to be managed during your lifetime and after your death. As the trust’s grantor, you typically serve as the trustee and retain control over the assets during your lifetime. Thus, you can modify or revoke the trust at any time, allowing for adjustments as circumstances or intentions change. Let’s take a closer look at why you should consider including one in your estate plan. Setting up a living trust To create a living trust,
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A Family Business Owner Needs Both an Estate Plan and a Succession Plan
For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly. Your estate plan can help ensure that your assets are distributed according to your wishes and provide contingencies in the event of your death or disability before retirement. Your succession plan can pave the way for a seamless transfer of leadership upon your retirement. Here’s how they work together. Two types of succession One reason transferring a family business is so challenging is the distinction
A Family Business Owner Needs Both an Estate Plan and a Succession Plan Read More »