Tag: Trusts
Trustees need to plan for automatic termination of Great Depression trusts. Dynastic trusts from the days of the Great Depression are near expiration and planning is required, according to Wills, Trusts & Estates Prof Blog in “Preparing for Trust Termination.” Most of the trusts created at that time have mandatory termination dates at which time, […]
Consider carefully before making your trust the beneficiary of your IRA. For tax purposes, it is not always a good idea to designate a trust as the beneficiary of your IRA, according to the Financial Advisor in “Is Naming A Trust As Beneficiary Of A Client’s IRA A Good Idea?“. The biggest and most important […]
An estate plan can put you on the path of being remembered for charitable giving. If you want to be remembered for being a charitable benefactor, you need to get started and an estate plan is a good beginning, according to the Port Huron Times Herald explains in “Plan today to make a difference tomorrow.” […]
Attorney-Client privilege is important in estate planning but there could be exceptions. Attorney-client privilege is one of the key doctrines of our legal system but there are exceptions as explained by the Wills, Trusts & Estates Prof Blog in “Treasure-Hunter’s Documents Might Be in Deep Water.” This doctrine even has an important place in estate […]
It turns out that trusts can behave just like people. Trusts are very similar to individuals in that they pay taxes and can donate to charity. A recent court case contains a warning as Wealth Management discusses in “Tax Court Disallows Trust’s Charitable Deduction for Want of Charitable Intent.” For years the trust in question […]
While estate planning has many different documents it comes down to two categories. One of the best ways to begin estate planning is to break the process down into two categories, according to the Motley Fool in “The Estate-Planning Documents Everyone Needs.” There are all sorts of different legal documents in estate planning that are […]
There are many opinions on the use of wills and trusts but each has strengths and weaknesses. When you are getting advice on wills and trusts it is best to decide which option is best for you but in order to do that you need to know the differences, according to the Motley Fool in […]
Bypass trusts are not as popular as they were at one time but can still work under certain circumstances. The “bypass” trust has gone out of favor as a result of federal estate law changes but can still work for you, according to the Poughkeepsie Journal in “Bypass trust works better for many families.” Basically, […]
Avoiding probate by setting up a trust only works if it is funded. Setting up a trust to bypass probate is often a good idea but it is important to make sure the trust is properly funded, according to the Green Bay Press-Gazette in “Estate Planner: Importance of funding your trust.” Funding the trust is […]
A trust is where you place your big assets and that often includes your home. A question people often ask in estate planning is what goes into a trust and should your home be in it, according to a FOX News discussion “Why Should I Put My Home in a Living Trust?“. To understand the […]
