Recent News & Blog / Estate Planning
Feeling charitable? Be sure you can substantiate your gifts
As the end of the year approaches, many people give more thought to supporting their favorite charities. If you’re inclined to give charitably and you itemize deductions, you may be entitled to deduct your charitable donations.
Don’t let beneficiary designations thwart your estate plan
For many individuals, certain assets bypass their wills or trusts and are transferred directly to loved ones through beneficiary designations.
Intrafamily loans must be handled with care
Is one of your top estate planning goals to provide your family with financial security at the lowest tax cost?
A quiet trust has its benefits, but an incentive trust may be a better option
When it comes to estate planning, one of the more nuanced tools available is a quiet trust (also known as a “silent” trust).
Is a custodial account right for your family?
If you’re considering opening an investment account for your minor child or grandchild to help him or her save for the future, a custodial account can be a useful option.
A family business owner needs both an estate plan and a succession plan
For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly.
If you’re asked to be an executor, be sure you’re up to the task
Make no mistake, serving as an executor (or a “personal representative” in some states) is an honor. But the title also includes significant responsibilities.
Using POD or TOD accounts may result in undesirable results in certain situations
Payable-on-death (POD) and transfer-on-death (TOD) accounts are attractive estate planning tools because they allow assets to pass directly to named beneficiaries without going through probate.
Should a living trust be part of your estate plan?
As its name suggests, a living trust (also known as a revocable trust) is in effect while you’re alive. It’s a legal entity into which you title assets to be managed during your lifetime and after your death.
Income taxes can negatively impact your estate plan
As the federal gift and estate tax exemption increases, the number of families affected by gift and estate tax liability decreases.