Saturday, August 13, 2022

Trusts and Wills

7 Reasons to Update a Will

Once you or your loved ones have a will drawn up, don't just put it away for safekeeping and forget about it. If your will doesn't keep pace with changes in a person's life,...

Charitable Remainder Trust: Save on Taxes While Doing Good

If you own assets that have appreciated significantly over the years, you may be able to profit more by giving them away than by selling them. By setting up a charitable remainder trust (CRT), you can transform a...
grandparent with grandchild

Is a Dynasty Trust Right for You?

With a properly executed estate plan, your wealth can be enjoyed by your children and even their children. But did you know that by using a dynasty trust, you can extend the estate tax saving...
benefits of living trust

Would a Revocable Trust Be Beneficial for You?

When developing an estate plan, a revocable trust can provide many benefits that, in most cases, significantly outweigh the cost of setting one up. Here are three of the benefits of setting up a revocable trust. Benefit...
irrevocable living trust

Decanting a Trust: What Is it? When is it a Good Idea?

An irrevocable trust is usually created to take assets out of the estate of the grantor mostly to: Save on federal or state taxes Remove the assets from potential creditors Help protect assets when applying...

Protect Estate Assets from Creditors with a DAPT Trust

When developing an estate plan, you may want to consider setting up trusts for various reasons, including protecting your assets from potential creditors. One way to accomplish this, depending on where you live, may be to set up...

A Trust to Help Fund the Payment of Estate Taxes

Consider this dilemma faced by a high-net worth individual: He doesn't want his heirs to be burdened with estate taxes so he takes out a life insurance policy to cover the tax bill. But then...
charitable remainder trust benefits

Benefits of Charitable Remainder Trusts

A charitable remainder trust (CRT) is an irrevocable trust set up to benefit a charitable organization. The trust's term is one lifetime, several lifetimes, or a period not to exceed 20 years. Basically, you irrevocably gift...
generational dynasty trust

Understanding Dynasty Trusts

Essentially, a dynasty trust enables a grantor to gift or bequest funds to the trust for the use of beneficiaries and subsequent generations. The goal is to have the trust accumulate the assets while...
charitable trust in estate planning

Two Charitable Trusts that Provide Dual Benefits

Two popular charitable giving vehicles are charitable remainder trusts (CRTs) and charitable lead trusts (CLTs). They are what's known as "split-interest" trusts. Why? Because of their dual beneficial interests: They can benefit a favorite qualified...

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