A Charitable Lead Trust (CLT) is a type of trust that allows a Donor to provide benefit to charity as well as their family or other beneficiaries. A CLT is irrevocable, meaning generally it cannot be modified, amended, or…
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Estate Planning
What you need to know about the proposed estate and gift tax changes in 2021 Due to the spending spree brought on by the COVID-19 pandemic, and President Biden’s infrastructure building plans, it is no surprise that Congress is…
What you need to know to get ready for the end of the year. With one year ending and a new one on the cusp of starting, many people will consider their resolutions—not their estate strategy. But the end…
What you should know about naming an IRA beneficiary. Can your IRA be put directly into a trust? In short, no. Individual retirement accounts (IRAs) cannot be put directly into a trust. What you can do, however, is name…
Too many households commit these common blunders. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.…
The hows and whys of charity in America. According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more that $400 billion in the history…
A windfall from a loved one can be both rewarding and complicated. Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and…
What should you know? What should your executor know? When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as…
Values can help determine goals & a clear purpose. Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid of what their heirs may do with it. If a child comes from money…
The steps you may need to take to fulfill a major responsibility. If you are an executor to an estate, you must carry out your duties responsibly. Fulfilling these duties is not only a measure of your ability, but…