What Are the Different Kinds of Trusts? Trusts are legal arrangements that ensure the administration of a deceased person’s assets aligns with what they would have wanted. Additionally, trusts work on behalf of your beneficiaries in your absence. Not all trusts are the same, however. The four main types of trusts are living trusts, testamentary […]
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Younger Generations Can Help Older Ones With Estate Planning
Younger Generations Can Help Older Ones With Estate Planning How do you approach a conversation with your parents about estate planning? For sure, you don’t want to nag or become a nuisance, creating suspicions about your motives. By being open and honest about your concerns, you can allay their fears that this is only about […]
Step Families and Estate Planning
Stepfamilies and Estate Planning Is estate planning in second marriages a potential minefield? This can be a loaded question because it’s already complex enough to blend families. It can be hard to decide on both an emotional and a legal level. After all, you’ll want to make sure your assets are working in everyone’s favor, […]
QCDs Tax Free Gifts to Charity
If you have an IRA, you are required to take out a certain amount of money each year once you reach age 73, even if you don’t need the funds. This is known as a required minimum distribution, and it can increase your taxable income, potentially pushing you into a higher tax bracket. How QCDs […]
Creating a Business Succession Plan
Creating a Business Succession Plan Family businesses particularly reflect distinctive cultures and history, and may be challenging for outsiders even to understand. However, the actual process for creating a plan is remarkably uniform. Although a good plan is customized to the specific business and its needs, many standard principles apply across the board. The value […]
Not Your Grandparent’s Assisted Living Any Longer
Even if you or a loved one is not enthusiastic about a move to assisted living, everyone can take some encouragement from how residential communities have developed over the past decades. Options range from more affordable care for middle-income, value-minded consumers to luxury facilities featuring concierge, cultural, and culinary options. Wellness programs are popular. Physical, […]
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