For those considering a strategy to combine philanthropy with lifetime income, the Charitable Remainder Trust (CRT) emerges as an option. Within the framework of CRTs, individuals can benefit from a
If you have young children, you’ve already thought a lot about raising your kids, ranging from their school and activities to their religious upbringing. But have you thought about who
A frequently overlooked element in estate planning involves the option to prearrange funerals. Thinking about mortality can be challenging for many individuals, leading them to postpone the consideration of their
To make sure a trust works the way you want it to, it’s important to choose a trustee you can count on to follow your instructions. However, to prevent long
When completing your estate plan, it should (at the very least) include a legally valid will outlining the disposition of assets upon your death. But a comprehensive estate plan often
There’s a common misconception that jointly owning assets with a child or another heir can serve as an effective estate planning shortcut. Although this approach may initially seem attractive, it
When affluent individuals are planning their estates, they may agonize over the impact their wealth might have on their children. It’s been reported that Bill Gates said, “I won’t leave
If you need a quick, simple, and inexpensive way to transfer assets outside of probate, payable-on-death (POD) accounts could be a possible solution. And they can be used for bank
For 2023, the gift and estate tax exemption amount at $12.92 million with only a small percentage of families subject to federal estate tax. Although that’s certainly a relief, you
The executor plays a vital role in managing your estate and carrying out your estate planning goals. While initially you might consider designating a trusted family member as executor, it
