Tag: Trusts
With every state seeking additional revenue and every candidate seeking additional votes, estate taxes have become part of many politicians’ platforms. Most of us pay more attention to estate taxes on the federal level, but estate taxes on the state and federal level have changed a lot in recent years. Not everyone is clear on […]
Collectors of fine art are advised not to think of their collections as investments, but collectors cannot ignore the value of their art portfolio, nor should they fail to consider what will happen to the artwork when they are not around to appreciate it. And as the art portfolio grows in value, whether through acquisitions […]
The expressions change from country to country, but the sentiment remains the same: passing family wealth from the first generation to the second generation is difficult, and extending it to the third generation is nearly impossible. Described as “clogs to clogs in three generations” by the British, “from shirtsleeves to shirtsleeves” from the Americans, and […]
The expressions change from country to country, but the sentiment remains the same: passing family wealth from the first generation to the second generation is difficult, and extending it to the third generation is nearly impossible. Described as “clogs to clogs in three generations” by the British, “from shirtsleeves to shirtsleeves” from the Americans, and […]
Bill Wurst, a 1959 alumnus in electrical engineering left $4 million to the MSU College of Engineering as a gift from his estate. The gift was designated for the greatest needs of the college, giving the family and the college the flexibility to apply it where it would do the most good. Wurst had spoken […]
Trusts are the misunderstood poor cousins of wills. They do not have to be overly complicated and, depending on the circumstances, may be better than a will for achieving certain estate planning goals. More people than you would think should consider using a revocable trust to dispose of assets, as discussed in MoneyWatch, “5 reasons […]
Trusts are a time-tested pragmatic tool to help individuals and couples achieve specific goals, whether they are related to transferring assets, managing tax liabilities or protecting yourself or your family from other financial threats. Trusts are not just for the wealthy. However, they are not do-it-yourself projects. There are many different kinds of trusts, and […]
For farmers, land is far more than an asset to be valued and sold. Land is a legacy to be protected, a resource that generates income and, if land has been passed down from generations, the cornerstone of their family’s heritage. The goals of estate planning for farm owners involves planning for the needs of […]
Second and subsequent marriages that occur later in life present challenges when it comes to estate planning. While no longer unusual or unique – nearly 42 million Americans have been married more than once – planning to provide for the surviving spouse, be fair to children from previous marriages and protect surviving spouses and adult […]
Death is truly our final frontier. Most of us like to imagine a story-book ending: lying in our bed at home, surrounded by those we love, with a skilled hospice worker tactfully hovering in the background. Sadly, 70 percent of Americans die in a hospital, nursing home or long term care facility. Why don’t we […]
