A special needs trust (SNT) can help you provide financial security to your child after you die without leaving them ineligible for the government benefits that they need to sustain care.
It’s common for older adults to leave their homes and move into a new living space – like a family member’s house, assisted living facility or nursing home – but a recent effort by the U.S. Department of Housing and Urban Development is hoping to change that and help older homeowners instead age in place.
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Grantor-retained annuity trusts, or ‘Grats,’ are a wealth-transfer technique that shift investment growth out of an estate to heirs tax-free.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
Advance directives typically consist of a living will and a power of attorney for healthcare.
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
Doing some ‘upstream’ planning now will take the guesswork out of what’s coming your way.
