If you own property and assets or have loved ones who depend on you to provide income or care, you should have an estate plan. However, some people hesitate to create one, fearing that taxes will eat up the lion’s
If you’re thinking of transferring assets to your children, grandchildren and distant descendants, you may want to consider using a grantor retained annuity trust (GRAT) or an intentionally defective grantor trust (IDGT). Both estate planning tools can be used to
Charitable trusts can be important components of any estate planning program, permitting individuals to make substantial gifts to favorite charities without giving up all rights to their property. A current tax deduction can be claimed by making a limited or
The sooner you plan, the more prepared you’ll be for life’s unexpected twists and turns. You can start now, regardless of your net worth. You might still be paying off student loans or credit cards for the foreseeable future. Surprisingly,
A charitable gift annuity is an irrevocable planned giving arrangement in which up to two annuitants, generally the donor and their spouse, receive a regular payment for life based on the value of assets (which may be cash, securities or
No one wants to think about death or dying, yet it is inevitable. Ignoring that fact causes many of us to delay planning, which, if the unexpected happens, can result in issues that could have been avoided. That is why
Ensure the longevity and success of your business by creating a strategy to transfer ownership. Don’t let your hard work go to waste by failing to envision the company’s future without you at the helm. Follow the advice below to
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
When it comes to making money, scammers don’t think about the people they are victimizing. All they focus on is increasing their income by whatever scams necessary. That said, certain groups of people are at a higher risk of being
According to StoneBridge Business Partners in Rochester, New York, business owners often pass their businesses on to their adult children, using an estate-planning option or gifting program. Other owners believe that the sale of their business represents a prudent way