A credit shelter trust is used to help married couples with significant assets pass their estates after their deaths to children or other beneficiaries without incurring estate taxes.
I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
What happens if a non-spouse beneficiary inherits an IRA account but dies before the money is put in her name. There were no contingent beneficiaries. Which estate would get the IRA?
Do I need a trust in case something happens to me?
The Wealth Advisor’s recent article entitled “Beware of These Common Estate Planning Scams” advises you to avoid these common estate planning scams. Cold Calls Offering to Prepare Estate Plans. Scammers call and email purporting to be long lost relatives who’ve had their wallets stolen and are stranded in a foreign country. Seniors fall prey to…
These spousal trusts are garnering attention as estate and gift tax exemptions are poised for overhaul.
Payable on death accounts can help streamline the process of transferring certain assets to loved ones, after you pass away.
How can you prepare your children to handle the assets they’ll eventually inherit?
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
Inheriting a residential property like a house marks the end of a life and the beginning of deciding what to do with the property and implementing that plan.
