by Christine | Aug 22, 2013 | Estate Planning, GRATs, Qualified Personal Residence Trust (QPRT), Trusts |
This type of trust allows a person to still live in a home for the term of the trust, deduct mortgage interest and real estate taxes, and then when the term of the trust expires, the home passes to the heirs and out of the owner's estate. The owners can retain the...
by Christine | Jul 25, 2013 | Estate Planning, LIfe Insurance, Trusts |
Are the proceeds of life insurance policies owned first by a taxpayer’s wife and then owned by a family trust, includible in a taxpayer’s gross estate? The estate tax is currently set at a generous level, with married couples able to protect up to $10.5 million...
by Christine | Jul 17, 2013 | Estate Planning, Estates, Pet Trust, Trusts, Wills |
Why do otherwise doting pet parents fail to make such plans? Most people assume they’ll outlive their pets, says Barry Seltzer, a Toronto-based estate lawyer and co-author of Fat Cats & Lucky Dogs: How to Leave (Some of) Your Estate to Your Pet. And death and...
by Christine | Jul 9, 2013 | Estate Law, Estate Planning, Trusts |
When Juliann Reynolds' husband died of cancer in 1992, she had to decide how to plan her own estate … Reynolds is one of a growing number of parents who are requiring their heirs to wait until they are older before they can collect their inheritances. When...
by Christine | Jul 3, 2013 | Estate Planning, Trusts |
Americans were once trust-happy. Now many are having second thoughts, and rightly so. How irrevocable is the so-called irrevocable trust? Well, many people are ready to find out as they consider changes to their trusts now that ATRA 2012 is in the mix. Forbes recently...
by Christine | Jun 18, 2013 | Estate Planning, Inheritance, Trusts |
Many wealthy people worry about the potentially corrosive effect of making their children superrich. Not Larry Ellison. The Oracle founder and CEO, the third richest man in the United States — worth $43 billion, according to FORBES’ latest estimates — has never...
