In this post, I discuss the grantor trust and the potential estate planning benefits it can offer. Photo by 401(K) 2012 is licensed under CC 2.0. The grantor of a trust, also known as the settlor of the trust, is the person who establishes Read more…
Photo by EandJsFilmCrew is licensed under CC 2.0. If you have children and have considered saving for their future college education, you have likely heard of the 529 plan. The name of this college savings plan is taken from Internal Revenue Code § 529. Read more…
Grandchildren by Tod Baker is licensed under CC 2.0. In previous posts, I discussed the interaction of the federal estate and gift taxes. As discussed, one method of avoiding the estate tax is to gift away property during the course of your life, thereby Read more…
Overholser Mansion by Kool Cats Photography is licensed under CC 2.0. The federal estate tax provides an exemption for property inherited by a surviving spouse known as the marital deduction. The marital deduction is not available, however, when the surviving spouse is not an American Read more…
In this post, I discuss the irrevocable living trust and the advantages it can provide as part of a comprehensive estate plan. Photo by Bridget Coila is licensed under CC 2.0. In a previous post, I discussed revocable living trusts, commonly known simply as Read more…
In this post, I discuss the process of establishing an adult guardianship, particularly for family members who are unable to care for themselves. Photo by Derrick Tyson is licensed under CC 2.0. This content uses referral links. Unfortunately, the potential for eventual incapacitation is a risk Read more…
-1 by J.K. Califf is licensed under CC 2.0. The federal estate tax provides an exemption for property left to a surviving spouse. This exemption is generally referred to as the marital deduction. In order for property to qualify for the marital deduction, the surviving Read more…
In this post, I discuss tenancy by the entirety, a common way married couples own property together, and the asset protection benefits it may provide. Foreclosure by Taber Andrew Bain is licensed under CC 2.0. Tenancy by the entirety is a special form of Read more…
Photo by Purple Slog is licensed under CC 2.0. The Health Insurance Portability and Accountability Act, often abbreviated HIPAA, is a Clinton-era law known for the stringent privacy requirements it imposed on the healthcare industry. The requirements are so pervasive that if you have Read more…
Photo by brykmantra is licensed under CC 2.0. Living wills became a matter of great public attention when the Terri Schiavo case was in the headlines. A living will is a legal document that provides instructions for your healthcare in the event you become incapacitated Read more…