Category: Charitable Remainder Trust
“While the tasks of dealing with an estate after someone passes may be simple administration, the work associated with it is often quite complicated.” Tax return issues, family matters, business associates, partners, trustees, bankers, investment advisors and tax collectors from the IRS to state and local taxing authorities all require attention after someone has died. […]
While direct giving has an immediate impact, some individuals may be considering charitable planning strategies that will have a larger and longer-lasting impact not only on charities, but on their own lives or that of their families. A charitable trust can provide an alternative to meeting your wishes for charities and your loved ones, while […]
“The SECURE Act killed the stretch IRA but instead of mourning, advisors can help clients make up the loss.” It’s sad but true: the SECURE Act took away the long lifetime stretch that so many IRA heirs enjoyed. It was a great efficiency tool for family wealth transfer, but there are ways to fill the […]
“Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.” You might remember a flurry of activity in advance of the 2016 presidential election, when concerns about changes to the estate tax propelled many people to review their estate plans. In 2020, COVID-19 concerns have […]
“The most well-known ‘death’ tax is the Federal Estate and Gift Tax. However, the reality is that few people really have to worry about the cost of federal estate taxes.” The least popular beneficiary is almost always the federal government. Most people are concerned that their estate will need to pay taxes and do what […]
“A more present sense of one’s own mortality may drive those who have not made plans before to begin the process of creating an estate plan. For those who have existing plans, are they up to date? How does the changing economic environment affect prior decisions?” One result of the global health crisis is that […]
“Giving appreciated stock shares, donating your RMDs and using charitable remainder trusts are just a few of the options you may not be aware of to help charities and your heirs at the same time.” America is a country of generous people. We give to organizations that we feel connected to, and we give to […]
“Under the new law, not only must all of the tax on IRAs and plans benefits be paid much earlier than it was before, but the rate will likely be much higher too, since that income will be bundled into the recipients’ peak earning years.” The demise of the stretch IRA is causing many IRA […]
“The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.” The majority of many people’s wealth is in their IRAs, saved from a lifetime of work. Their goal is to leave their IRAs to their children, says a recent article from Think […]
