trust Tag

29 Dec

When a Minor Is a Beneficiary

Some factors for parents and grandparents to consider. Naming a minor as a beneficiary brings up a major concern. If parents or grandparents make a child a primary or contingent beneficiary of an insurance policy, IRA or investment account, they should be aware that most policies and investments will not directly transfer to a minor. They need to be received by a court-approved property guardian, a trustee of a children's trust, or a revocable living trust beforehand.
29 Dec

Estate Planning for Your Digital Assets

Have you addressed this issue? Social media and email accounts. Creative works, photos and keepsakes kept on home computers, the cloud or external storage drives. E-commerce accounts. Domain names. Bitcoin. These are all examples of digital assets. You will manage them closely as long as you live—but what will happen to them once you die?
28 May

Estate Planning for Your Digital Assets

Have you addressed this issue?

Social media and email accounts. Creative works, photos and keepsakes kept on home computers, the cloud or external storage drives. E-commerce accounts. Domain names. Bitcoin. These are all examples of digital assets. You will manage them closely as long as you live—but what will happen to them once you die?

11 Dec

How to Decant a Trust

If you would like to pass wealth from one generation to the next while incurring a minimal amount of tax, you may have set up an irrevocable trust, or you may be considering doing so. However, irrevocable trusts are, by their nature, restrictive. The ultimate beneficiaries of your irrevocable trust will face restrictions on how much and when assets can be pulled from the trust. In addition, if you or the beneficiaries later need to change the irrevocable trust's trustee, it can be very difficult to do so.

23 Oct

Avoiding Family Squabbles Over Your Estate

What steps may help assets transfer without a fight?

Should you rely on "will power" to bequeath assets? The more complex your estate, the more ill-advised that choice becomes. Having only a will in place when you die may not be enough. As MarketWatch noted recently, research from the Williams Group (a major estate planning firm) indicates that estate fights reduce inherited wealth for as many of 70% of families.1

03 Sep

Creating a Charitable Giving Strategy

You have a financial plan, a retirement plan and an estate plan. But do you have a charitable giving plan? Once your immediate financial needs are met, you may be interested in sharing some of your wealth with others. But given the wide variety of options you have when it comes to charitable giving, it can be difficult to know what causes are most deserving of your money and your time. That's where a charitable giving strategy comes in.

Who Needs a Charitable Giving Strategy?

If you have significant wealth and plan to give some of it away, a charitable giving plan is a must. A plan will give you more control over how your dollars are used and can also help you manage potentially complicated tax issues. But even the less wealthy can benefit from having a strategic approach to charitable giving. Whether you give $500 a year or $500,000, you want to know that the money you share is having a positive impact.