Robert Redford officially bought what was once the Timp Haven Resort (now known as the Sundance Mountain Resort) in 1969. This year, he’s stepped away, selling the resort to Broadreach Capital Partners and Cedar Capital Partners. While we don’t know how much the resort was sold for, the structure of the sale shows how this iconic real estate investor has built a successful exit strategy.
It is critical that parents and grandparents give careful thought to any gift of money or bequest in an estate plan, when the recipient has special needs.
To ensure a lasting legacy, you need to get your documents in order and have a clear plan for how your wealth will transfer, avoiding taxes and inheritor pitfalls along the way.
Your real estate holdings, life insurance, bank accounts and retirement savings won’t magically flow into your trust.
A trustee is a manager of assets in a trust. The grantor creates the trust and appoints the trustee. A trustee has a ‘fiduciary duty’ to serve the grantor and not benefit personally.
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.
Personal property is a unique category of asset. Even in the simplest after-death distribution, personal property can become a hindrance to final distribution. There are a couple of reasons why.
When do you need your estate plan to ‘go to work’ for you? While you may think the right answer is ‘after I die,’ the actual answer is ‘if I lose the ability to manage my own affairs.’
Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.
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.
