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.
Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming—and with the election on its way, it could be sooner than you think.
If you’re single and die in 2020, you can have up to $11.58 million in assets before your heirs have to worry about paying a penny in estate taxes.
Estate planning is the process of transferring the management of your assets, if and when you are unable to manage them yourself due to disability or death. Whether you have $100 or $100 million you should have an estate plan.
My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.
No one has to accept inherited assets. Inherited assets can be disclaimed.
If you decide to leave assets in a trust for your beneficiaries, consider your designation of trustee carefully. The most important person in the trust framework is the trustee, the one responsible for managing trust assets.
Photographs in the cloud, Facebook and Instagram accounts, bank and other financial accounts, and a host of other accounts and data are at our fingertips on electronic devices.
The period leading up to and shortly after losing a close relative is often one of the most emotionally demanding times that we, as humans, experience.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
