Category: Beneficiary
There are many trusts and they fall into two categories. Estate planning has many options to achieve various purposes and trusts are one of the key ways to accomplish those goals, according to the Aiken Standard in “ON THE MONEY: A look at different types of trusts“. Some are created by the operation of a […]
The next generation may be willing to continue. However, it is important to prepare for the legal issues. If it turns out that the next generation of a family with a farm wants to work it, you have a good start at succession. However, you will also need an estate plan to tackle that job, […]
College support, birthdays or just plain giving has its distinct advantages. Many people are considerate about gifting to help family, friends and society because there really is more to it than receiving a tax advantage, according to the New Hampshire Union Leader in “Lifetime (noncharitable) giving has many advantages—and not just for tax purposes“. Lifetime […]
Changed jobs? Moved around? Don’t know where your accounts are located? There may be more retirement money out there for you if you have changed jobs during your lifetime and haven’t kept track of the accounts, according to the Albany Times Union in “Finding lost retirement benefits“. It may also be difficult to locate them […]
If you decide on a trust, which one is best? The question of whether you need a trust or not in your estate plan is best answered after a discussion with an estate planning attorney. However, here is some preliminary guidance from U.S. News & World Report in “8 Things to Know About Trusts“. Revocable […]
If you are going to pass it on, you probably want to pass it on sooner rather than later. You can pass on a gift of $11.4 million under the new tax laws, without paying federal estate tax. However, that window will likely close and can close soon, according to Barron’s Penta in “What to […]
A periodic review will also give you an idea of any changes that are necessary. A will is certainly something that should be completed. However, it isn’t a document to put on the shelf and forgotten because, as your life and government laws change, so should your will, according to The Item in “Don’t wait […]
Why is the revocable trust so appealing? You can change it whenever you’d like. You do not have to have a lot of money or assets in order to benefit from the use of trusts, according to Barron’s in “Why a Trust is a Great Estate Planning Tool – Even if You’re Not Rich“. Many […]
Protect your assets from being mishandled. As you prepare an estate plan, consider creating trusts to protect assets through the generations, according to the Times Herald-Record in “Leaving inheritances to trusts puts you in control“. For many parents, the inheritance equation is simple. They leave their estate to their children “per stirpes,” which in Latin […]
Trusts have been around for a very long time and it is important to understand how they work. A trust can be quite complicated. That is why you need good legal representation in order to use one properly, according to the Pittsburgh Post-Gazette “Do I need a trust?“. Trusts are created using a tailored trust […]
