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Home / Archives for Trusts

Planning for Education Expenses

November 29, 2019 by Michael O'Brien

Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how a trust can be used to provide for your child or grandchild’s education. The article looks at how a trust can protect those funds. Planning for Education Expenses … [Read more...] about Planning for Education Expenses

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, planning, 529, education

Planning for Special Needs Children

November 8, 2019 by Michael O'Brien

Planning is important when providing for any of your children. But planning is even more important for special needs children. Without proper planning, an inheritance can jeopardize a special needs child’s needs-based benefits, such as SSI or Medicaid. Read on to learn more about planning for special needs children. Planning for Special Needs Children … [Read more...] about Planning for Special Needs Children

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, planning, special needs

529 Plans: Planning for Education with a Tax and Asset Protection Bonus

November 1, 2019 by Michael O'Brien

Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how 529 plans may have tax advantages when providing for education. Further, the article looks at how such a plan may provide asset protection in bankruptcy, as well. 529 Plans: Planning for Education with a Tax and Asset Protection Bonus … [Read more...] about 529 Plans: Planning for Education with a Tax and Asset Protection Bonus

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, planning, 529, education

Kiddie Tax is Worse Than Ever

June 28, 2019 by Michael O'Brien

The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, income tax, beneficiaries, Kiddie Tax

Beneficiary Designations, etc., Aren’t a True Substitute for a Trust

March 8, 2019 by Michael J. O’Brien, Estate Planning Attorney

TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, beneficiary designation, joint tenancy, pay on death, POD, TOD, transfer on death

How Are Trusts Taxed?

January 3, 2019 by Michael O'Brien

Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more. How Are Trusts Taxed? … [Read more...] about How Are Trusts Taxed?

Filed Under: Estate Planning, Legal Education Tagged With: Trusts, grantor trust, nongrantor trust

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Michael and his team work very closely with you to help build a strategy for you regarding estate planning. They do not overdo it. They work hard to be certain their suggestions/recommendations fit your needs. Michael asks great questions, listens well and delivers on his commitments. I was very appreciative and hugely satisfied.

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