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While there are a multitude of different trust types, they all have one thing in common: Every trust must be “funded” with assets in order to receive the intended benefit. Funding a trust is arguably the most important (and most neglected) step when utilizing a...
Individuals often wish to make lifetime gifts to their loved ones as part of their estate plan. They frequently desire to make direct gifts to their beneficiaries because it is less complex than creating and utilizing a Trust. However, a properly structured...
When you have a child with special needs, you may need to take extra steps when working on your estate plan so that you may preserve your child's eligibility for government help. Your child’s ability to collect certain types of benefits, such as Medicaid or...
Update: Here are the 2020 income tax rates for trusts and estates The IRS has enacted revenue procedure 2018-57 which updates rules in the tax code, which updates include regular adjustments for inflation. Included in these updates are adjustments to the 2019 tax...
An estate plan can be created with a variety of different tools, but two of the most common options are a will and a trust. Most people are familiar with wills. You likely have heard of a trust, but may be unclear who should use a trust. Here are some of the benefits...
There are many options to consider when creating an estate plan. So much so, that all the terms can get confusing. Wills. Trusts. Powers of attorney. It's so confusing that one study shows only 40% of people have a will or trust. That's an alarming number, and may be...
If you want to ensure that your assets are handled the way you want them to be handled, or you want to make sure your relatives can avoid probate court, a trust might be a good option for you. There are a few different types of trusts, but all trusts are just legal...
