In life, we accumulate many assets. To ensure your prized possessions get distributed according to your wishes after you pass, take the time now to sit down with an estate planning lawyer and prepare your will. By setting aside time in the present to decide what should go where in the future, you can rest […]
Revocable vs. Irrevocable Trusts
Trusts can benefit almost any estate plan, offering a range of unique legal, personal, and tax-related perks to help you reach your financial goals. When the time comes to create a trust, you must know the difference between two key types: revocable and irrevocable trusts. Here’s an overview of what each trust type entails and […]
Introduction to Crummey Trusts
There are many different types of trusts that people can use as part of their estate plan, some more well-known than others. One such trust is known as the “Crummey” trust, named for the case of Crummey v. Commissioner, 397 F.2d 82 (9th Cir. 1968). A Crummey trust is an irrevocable trust that enables annual […]
A Brief Introduction to the Charitable Remainder Trust
Since 1969, many people have used charitable remainder trusts, or CRTs, to maximize their incomes, minimize taxes, and support charities that have special meaning for them. At one time, they were regarded as simply another medium for the wealthy to make large donations. Nowadays, people with modest estates also use them to donate small amounts […]
