Intentionally defective grantor trusts (IDGT) are designed to be tax-inefficient for the grantor but tax-efficient for the trust’s beneficiaries. They can be an excellent estate planning tool for minimizing estate taxes and maximizing accounts and property that is passed to your beneficiaries. The grantor of the trust, not the trust itself, retains certain powers over […]
Read More
Michael has a problem. He is a 70-year-old widow, and his adult daughter, Marie, is disabled and unable to support herself. He has two other adult children. How can he ensure Marie is cared for while being fair to his other two children? Marie has lived with him and his late wife for her entire […]
Read More
The divorce rate is declining in the United States but remains between 31% and 42%. Your children enter their marriages sure that their marriage is strong and would never be subject to divorce, but it happens. In addition to concerns about your child’s happiness and your grandchildren’s welfare, you also need to ensure that your […]
Read More
What to do when the Trustee doesn’t Respond Marci is the beneficiary of her great-aunt Margaret’s trust. Margaret told Marci that the trust would pay for all her educational expenses, no matter which university or degree she sought. Marci has contacted the trustee, Tom, several times. She has sent copies of her enrollment information, tuition […]
Read More
Key Points in Estate Planning Only 33% of Americans have a will or living trust, according to Caring.com. Of these, one in three believe they don’t have enough assets to leave behind. Many people think their estate planning is a single event. Once they have prepared a will, living trust, or other end-of-life documents, they […]
Read More
Some people, especially the very wealthy, are uncomfortable with the idea that their children know they are the beneficiary of a trust. Knowing that you will inherit a large sum of money can adversely affect how you plan and approach your life. We all hear stories of “trust fund babies” who wait for their trust […]
Read More
Taxes are a fact of life, but some tax schemes are better known than others. For example, everyone who earns a paycheck knows about the federal income tax deductions from their pay each pay period. Lesser known taxes include capital gains, gift, and generation-skipping transfer taxes. The generation-skipping transfer tax (GST) is a federal tax […]
Read More
Small business owners have many options when structuring their business and choosing their tax status. One option is an S corporation. The business structure you choose will affect your estate planning, so it is essential to seek the guidance of an experienced estate planning attorney and tax advisor when estate planning as a small business […]
Read More
While your rights as a domestic partner may differ depending on the state you live in and possibly even the city or county, a domestic partner is unlikely to have the same rights as a spouse. What defines a domestic partnership? A domestic partnership is an alternative to marriage that any couple can choose if […]
Read More
Parents want to ensure that their children feel that they are all treated fairly and feel equally valued. However, the reality is that all children do not need the same amount of financial help, especially in different phases of their lives. Parents may want to divide their property and accounts equally among their children in […]
Read More
(855) 528-9637