Do you want to make annual exclusion gifts to your young children or grandchildren but are worried about giving minors unfettered access to the funds? Then a Section 2503(c) minor’s trust might be the…
People generally remember to amend their wills or revocable trusts after a divorce, but there are many other estate planning and financial arrangements you should address that are easily overlooked. These include: Jointly owned…
The fact that a minimum term for grantor retained annuity trusts (GRATs) has been discussed in Congress but not become law — combined with low interest rates — may make it an ideal time…
If you die without addressing your digital assets (such as online financial accounts, social media accounts, loyalty program benefits, etc.) in your estate plan, your loved ones or other representatives may not be able…
If you own life insurance policies at your death, the proceeds will be included in your taxable estate. Ownership is usually determined by several factors, including who has the right to name the beneficiaries…
Too often, people planning their estates focus on tax and asset-protection issues and overlook long-term health care needs. But the high cost of long-term care (LTC) can quickly devour resources you need to maintain…
Many people mistakenly believe they can transfer their home to their children while retaining the right to continue living in it for the rest of their life, and remove the home’s value from their…
Your estate planning efforts may go for naught if your family can’t find your documents. Here are several tips for ensuring that critical documents are readily accessible when needed: Wills and trusts. Ensure your…
The good news is that the opportunity for tax-free transfers of wealth to future generations has never been better during our lifetimes. The bad news is that the window on this opportunity is closing…
