Trust Protectors are increasingly popular in trusts. This article examines how Trust Protectors can add flexibility to your trust. This flexibility helps achieve your goals and can protect the beneficiaries and Trustee.Use Trust Protectors for Added Protection and Flexibility … [Read more...]
Income Tax Basis
Income tax basis is important in tax and estate planning. This article examines the concept of income tax basis, how one acquires a basis, how it gets adjusted, etc. The article then examines how the basis is subtracted from the sale price to determine gain or loss. The next article in the series will examine how income tax basis is an important factor in estate planning.Income Tax Basis … [Read more...]
Planning for Step-Children
If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children.Planning for Step-Children … [Read more...]
Disinheritance
Each of us will die eventually. This article looks at how planning can make your passing easier for those whom you leave behind. Specifically, this article will look at how you can disinherit someone with the least disruption to the family.Disinheritance … [Read more...]
Your Planning Can Help Your Loved Ones
Each of us will die eventually. This article looks at how planning can make your passing easier for your loved ones. Specifically, this article will look at the importance of the manner in which assets are left for your loved ones.Your Planning Can Help Your Loved Ones … [Read more...]
The Importance of Communicating Your Plans
Each of us will die eventually. This article looks at how planning can make your passing easier for those whom you leave behind. Specifically, this article will look at the importance of communicating your plans with your loved ones to avoid disputes after your death.The Importance of Communicating Your Plans … [Read more...]
How Much is Too Much?
This article looks at the question of how much is too much to leave your children. Many people have pledged to give the majority of their wealth to charity. If you won’t leave all your assets to your children, the article provides resources for vetting worthwhile charities.How Much is Too Much? … [Read more...]
Many Reasons to Plan
Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones.Many Reasons to Plan … [Read more...]
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility.Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
Consequences of Modifying an Irrevocable Trust
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more.Consequences of Modifying an Irrevocable Trust … [Read more...]
