Category: Special Needs Planning
Many families today are living with trusts that their ancestors established decades ago. In each case, there’s a definition of “family,” either explicitly written into the trust or, by default, applied by its governing law. There are innumerable ways that these trusts might define which family members are eligible to be beneficiaries and/ or remaindermen of […]
There’s never a good or easy time to talk with older parents about their finances and estate plans. But taking advantage of a relaxing moment –well before problems arise – can improve the odds of success. If you are heading out for vacation with your elderly loves ones, you may picture some relaxing time by […]
Only 17% of dog or cat owners have taken any legal steps to provide for pets’ care after their death, according to a recent survey by the ASPCA. Most people simply assume that a friend or relative will take care of their pet after they’re gone, animal advocates say, and many pets wind up in […]
According to a recent WealthCounsel survey, 35 percent of people are crafting their estate plans to avoid mismanagement by their heirs. They are setting up trusts, naming third-party trustees to manage their bequests and delaying the age that heirs receive them. There are a number of hard questions when it comes to planning for your […]
Here is some background on what is known as the “annual gift-tax exclusion.” You can give away as much as $14,000 this year to anyone you want—or to each of as many people as you wish—without any tax considerations or burdensome paperwork. The recipient can be anyone you choose. Many taxpayers are confused when it […]
