These days it’s easy to feel overwhelmed by many things such as politics, gas prices, the gyrating stock market, summer travel, heatwaves and your health. One thing that shouldn’t overwhelm you is estate planning.
One type of trust, the qualified perpetual trust, can be used to pass assets down to your beneficiaries, decade after decade.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
A testamentary trust can control your assets after death. However, there may be a better option available, experts say.
The IRS issued a revenue procedure (Rev. Proc. 2022-32) Friday that allows estates to elect ‘portability’ of a deceased spousal unused exclusion (DSUE) amount as much as five years after the decedent’s date of death.
Investors use irrevocable trusts to protect their assets from creditors, lawsuits and estate taxes. However, when you sell a home in an irrevocable trust, that can complicate your tax situation.
As many family caregivers know all too well, caring for an elderly loved one can overwhelm you quickly.
We all want to protect vulnerable people from harm. However, taking away all their rights usually isn’t the place to start. Instead, there are several less severe options that could be the right way to go.
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
