One of the advantages of a Crummey Trust is that it allows you to determine when a beneficiary can withdraw the money each year. This feature is especially useful when giving money to children who aren't mature enough to handle it.
According to the Small Business Review, only 30% of family-owned businesses survive to the next generation. In many cases, it's an issue of not having an exit plan. Failure to plan properly may mean that multiple people fight for control of your business or that...
Every year, thousands of Americans neglect to create estate plans. There are various different justifications people utilize to avoid estate planning, such as not having enough time and the cost being excessive.
Keep a record of your gifts. Contribute to a tax-advantaged savings plan. Donate used clothes and household items to any charitable organization. Look into a donor-advised fund. Learn about short-term and long-term finance estate benefits.
In your trust, you can use a clause to protect your children should you and their other parent pass away before they reach a certain age. You can designate the person(s) you want to care for your children, and more.
A registered domestic partnership is for two adults who have chosen to share one another's lives in an intimate and committed relationship of mutual caring. It's a legally-binding contract to formalize their relationship.
Hire a professional estate planner who can save you and your heirs time and money over the long run by developing a complete and up-to-date estate plan. Estate taxes, for example, have varied dramatically in the past several years. In 2010, for one year, the estate tax...
Do you know how to own corporate stock in your business; whether to implement basic business agreements to protect and enhance your business' value; and whether to implement a deferred compensation plan?