Donate Appreciated Assets to Charity Instead of Selling Outright For Tax and Income Benefits Using a Charitable Remainder Trust

10 February 2020

Donate Appreciated Assets to Charity Instead of Selling Outright For Tax and Income Benefits Using a Charitable Remainder Trust
 

If you have highly appreciated assets like stock and real estate you want to sell, it may make sense to use a charitable remainder trust (CRT) to avoid income and estate taxes—all while creating a lifetime income stream for yourself or your family AND supporting your favorite charity. 

 

Create a Special Needs Trust to Protect the Financial Future of Your Child with Special Needs

21 January 2020

Create a Special Needs Trust to Protect the Financial Future of Your Child with Special Needs

It always surprises me to hear parents who have a child with special needs tell me that they were not aware of what they needed to do to ensure the future well-being and care of their child is properly handled. Or sometimes, they tell me they didn’t know they needed to do anything at all.

Don’t Transfer Ownership of Your House to Your Kids Before You Read This

14 January 2020

Don’t Transfer Ownership of Your House to Your Kids Before You Read This

 

With the cost of long-term care (LTC) skyrocketing, you may be concerned about your (or your elderly parents’) ability to pay for lengthy stays in assisted living and/or a nursing home. Such care can be massively expensive, with the potential to overwhelm even the well-off.
 

Overlooking This Basic Part of Your Estate Plan Can Be Tragic

7 January 2020

Overlooking This Basic Part of Your Estate Plan Can Be Tragic

The recent death of the CEO of QuadrigaCX, a major cryptocurrency exchange in Canada, demonstrates a basic, yet often-overlooked, tenet of effective estate planning:

In the event of your incapacity or death, if your heirs don’t know how to find or access your assets, those assets are as good as gone. Indeed, it’s as if those assets never existed at all.

The Real Cost To Your Family of Failed Estate Planning: Not Updating Your Plan

29 October 2019

If you’re like most people, you probably view estate planning as a burdensome necessity—just one more thing to check off of life’s endless “to-do” list.

You may shop around and find a lawyer to create planning documents for you, or you might try creating your own DIY plan using online documents. Then, you’ll put those documents into a drawer, mentally check estate planning off your to-do list, and forget about them.

The problem is, your estate plan is not a one-and-done type of deal.

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