When planning your next great travel adventure, you may decide that you can do it yourself. You know what you and your travel companions want to see and do, how much you are willing to pay, and the most convenient times to travel. While making travel arrangements may be okay to do...
Tag: Estate Planning
What Is a Blind Trust?
Trusts are typically set up for the benefit of a trustmaker’s loved ones, a charitable organization, or a third party, with the trust money and property being distributed to the beneficiaries upon the trustmaker’s death. But there are situations in which a person may want to set up a trust to be...
An Introduction to Dynasty Trusts
When people create estate plans, they typically focus on handing down their money and property to their children, grandchildren, and other living heirs. But some people want to leave behind a more enduring legacy. For those interested in multigenerational wealth transfer, a dynasty trust could be the answer.
A...
Will Our Child Have to Handle Multiple Trusts after Our Deaths?
When a married couple creates an estate plan using a revocable living trust, they have the option of creating a single joint trust or two separate individual trusts. While the pros and cons of each are beyond the scope of this article, spouses may choose to create separate trusts for a variety...
Generation-Skipping Transfer Tax
When it comes to federal taxes, most people are very aware of the federal income tax because, if they earn a paycheck, they cannot help but notice the deductions each pay period. But there are lesser-known taxes such as the capital gains tax (a form of income tax), the estate tax, the...
How to Keep Your Child’s Inheritance Out of Your In-Law’s Hands
About 40 to 50 percent of all marriages in the United States end in divorce. Regardless of how you feel about your child’s spouse, you must face the possibility that they could become your child’s ex-spouse. Should that day come, the money you leave to your child could be subject to a...
Include a Family Meeting in Your Next Family Reunion
Along with warmer weather and lazy days spent at a pool, summertime also often includes a family gathering, such as a Fourth of July barbecue, a family vacation, a reunion, or time spent at a family cabin or lake house. Whatever the form, in our always-on-the-go society, getting the whole family together...
Your Role in a Client’s Summertime Family Gathering
Along with warmer weather and lazy days spent at the pool, summertime also often includes a family gathering, such as a Fourth of July barbecue, a family vacation, a reunion, or time spent at a family cabin or lake house. Whatever the form, in our always-on-the-go society, getting the whole family together...
Three Things You Need to Know about Cryptocurrency and Your Estate Plan
Cryptocurrency’s popularity has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan.
Beware of the Tax Consequences
Transferring your cryptocurrency to other people, either during life or...
Three Steps You Can Take Now to Protect Your Artistic Legacy
Although your death is probably a long way off, it is important that you have a plan to ensure that your affairs are settled in the way that you want. An estate plan crafted by an experienced estate planning attorney is a legally enforceable set of documents that allows you to name...