As Trusts gain popularity, a question comes up more and more often: who pays the income tax on a Trust? It seems like a simple inquiry, but the answer can be hard to pin down. So, who does pay income tax on a Trust? Here is the answer, in a nutshell.
It can be a surprise to find yourself caring for elderly parents at the same time that you’re raising your own children. The emotional demands of these multiple roles are often coupled with financial challenges as well. That’s why it’s important to know when you can claim your aging or ill parent as a dependent for income tax purposes.
The draft of your new Trust makes you wonder if your estate planning attorney gets paid by the word. Is all this verbiage really necessary? In fact, a good plan has many points to cover.
Insurance has a number of uses as an estate planning tool. It helps protect and preserve your estate, giving you more to pass on to your loved ones. It also has special characteristics that allow you to position your estate for sophisticated estate planning. Learn about the basic categories of insurance and how they strengthen your estate plan.
Keeping your special needs child secure after you are gone takes special planning. The right techniques can ensure both your child’s well-being and your peace of mind.
Sometimes, in an attempt to avoid thinking about the worst, we miss the opportunity to do the best for our loved ones. A comprehensive estate plan can help you confront your fears in a way that will ease your family’s responsibilities, should the unexpected happen.
You might not realize the advantages a low interest rate environment can offer for estate tax planning. Let's take a look at just a few.
People tend to think of estate planning as something that only the wealthy or the elderly need to do. In truth, regardless of your age, your situation in life, or your level of wealth, estate planning accomplishes a few universal goals.
Estate planning is only for wealthy people who want to reduce their estate taxes, right? Wrong! Only a tiny percentage of Americans need to worry about estate taxes but every adult needs an estate plan. Find out why.
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