If you are in a committed relationship but have decided to remain an unmarried couple, you still need to plan to protect your assets for yourselves and your children. We know that complexities can pop up suddenly, so it is never too early to start a shared estate plan. Because unmarried couples do not […]
Trusts
Are Charitable Trusts Right for You?
A charitable trust is one way to fulfill your philanthropic goals; it comes with benefits like income tax deductions for the fair market value of the donated assets, a potential reduction in real estate taxes, and the avoidance of capital gains taxes on appreciated assets. Charitable trusts are one way to create a family […]
What Does a Trustee Have To Do?
As a trustee, you’ll have to get to work within a month of when the grantor dies. There will be phone calls to make, information to gather, and letters to write at first. Later, you’ll be responsible for making good investment decisions, filing tax returns, transferring the ownership of real estate, and more, requiring […]
Trusts: A Tool for Protecting and Managing Assets
A trust is a legal entity that holds assets for the benefit of a person (either you or someone else) or an organization. It functions like a container, holding money or property under a different legal definition than if you held it on your own. Every trust arrangement involves three key parties: Trusts are established […]
Why a Will May Not Be Enough
A will has no legal power until it is admitted to probate and a personal representative is appointed by the court. But courts don’t act on their own after your death; someone must file the necessary paperwork. This is a built-in delay that can slow down the process significantly. Further, probate is a public […]
Heirs and Spares: Contingent Beneficiaries
When the Titanic went down in 1912, several women chose to remain on board and drown with their husbands; most famously was Ida Straus, whose family co-owned Macy’s Department Store. Although Titanic-scale disasters are extraordinarily rare, you should nevertheless include a contingency beneficiary in your will or trust in case life or death throws you […]
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