Estate Planning

Family Values and History are Still the Best Inheritance

Family Values. Family Traditions. Family History. Money is nice, but passing down your family values, traditions and history is the richer inheritance. A 2012 Allianz Life American Legacies Pulse Study* which surveyed baby boomers (age 47 to 66) and “elders” (age 72 and older) revealed a high percentage of both boomers (86%) and elders (74%) […]

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Fund your Living Trust to avoid Probate

I often meet with people who wish to avoid probate. Probate is a public court proceeding required to transfer a person’s assets at death. Probate can be lengthy and expensive. All assets owned in individual name (or jointly without survivorship) can only transfer to your loved ones through probate. Ways to avoid probate include survivorship rights, beneficiary designation and

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Do I have to file Gift Tax returns for the gifts to my Insurance Trust?

Filing a gift tax return for an Irrevocable Life Insurance Trust (ILIT), even if not technically required because all gifts are below the annual exclusion, is a good idea. Benefits: Filing starts the statute of limitations running on the IRS to audit the gift. Filing allows you to decide affirmatively whether Generation Skipping Transfer Tax

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Trust Protector

I am a proponent of Trust Protectors to assist a trust to accomplish its goals.  The concept of a Trust Protector is to grant someone who is not a trustee or beneficiary certain powers over the trust.  These powers often include: The power to remove and appoint trustees The power to make modifications to the trust in light

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