Category: Trusts
Many families today are living with trusts that their ancestors established decades ago. In each case, there’s a definition of “family,” either explicitly written into the trust or, by default, applied by its governing law. There are innumerable ways that these trusts might define which family members are eligible to be beneficiaries and/ or remaindermen of […]
If you have property that you would like to be preserved, either for conservation or historic purposes, there is nothing so close to a free lunch as the donation of an easement. You may be entitled to a charitable contribution for the value of the easement. That, of course, is icing on the cake if […]
There’s never a good or easy time to talk with older parents about their finances and estate plans. But taking advantage of a relaxing moment –well before problems arise – can improve the odds of success. If you are heading out for vacation with your elderly loves ones, you may picture some relaxing time by […]
Only 17% of dog or cat owners have taken any legal steps to provide for pets’ care after their death, according to a recent survey by the ASPCA. Most people simply assume that a friend or relative will take care of their pet after they’re gone, animal advocates say, and many pets wind up in […]
WHEN James Gandolfini, one of the most recognizable actors of the last decade, died of a heart attack while on vacation last month, the response was as intense as you might have expected for the man who was Tony Soprano. But then something odd happened: a few weeks after he died, the discussion shifted to […]
Are the proceeds of life insurance policies owned first by a taxpayer’s wife and then owned by a family trust, includible in a taxpayer’s gross estate? The estate tax is currently set at a generous level, with married couples able to protect up to $10.5 million combined. So it can be enticing for many taxpayers […]
According to a recent WealthCounsel survey, 35 percent of people are crafting their estate plans to avoid mismanagement by their heirs. They are setting up trusts, naming third-party trustees to manage their bequests and delaying the age that heirs receive them. There are a number of hard questions when it comes to planning for your […]
