Avoid Naming a Trust as Beneficiary of Your IRA
It’s generally a bad idea to name a trust as beneficiary of your IRA.
March 10, 2021
The Generation-Skipping Tax Can Make A Big Impact
Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.
March 2, 2021
Extend IRA distributions with a Charitable Remainder Trust
Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.
March 1, 2021
Protect Your Estate from Nursing Home Costs
No one wants a nursing home but the longer we live, the higher the chance we may need a nursing home at the end of life.
February 8, 2021
Some Fundamental Responsibilities of an Executor
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be tasked with carrying out a loved one’s final wishes.
February 2, 2021
Don’t Fail to Fund Your Trust
Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.
January 29, 2021
Strategies to Keep Inheritance Money Separate
Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.
January 20, 2021
An Irrevocable Trust may be a Good Idea
Like a lot of estate planning vehicles, irrevocable trusts work very well for some purposes—particularly for tax avoidance and asset protection—and not so well for other purposes.
January 18, 2021
How Do You Handle A Large Inheritance?
Let’s start with the numbers: 10 and 1,000,000,000,000. Over this decade, $1 trillion is expected to change hands through inheritance. The majority of that will end up in the hands of baby boomers. While one study found that the average inheritance was only $50,000, there will be a lot of inheritances in the $1 million-plus range.
December 9, 2020
Creating a GRIT Could Have Some Benefits
Trusts can be useful in estate planning for passing on assets to your heirs. A grantor retained income trust (GRIT) is a specific type of trust that allows you to transfer assets, while still benefiting from the income they generate.
November 24, 2020