Simplifying Life and Administration after Life
Above all else, two issues impact the complexity and time and cost of the administration of a person’s estate more than the rest: the assets and the heirs. One of…
Preparing for College – Funding with a 529 College Savings Plan or a Testamentary Trust?
At this time of year when high school students apply to the colleges of their dreams and matriculates return to their studies, it is important to consider your own situation…
Business Succession Strategy – Gift followed by a Redemption
Let’s assume that the patriarch of a local manufacturing business is ready to determine the best way to transition ownership of the business to his daughter. The patriarch, John, and…
The Value of Gifting
The concept of gifting is simply that you give something to someone or something for no value in return. That is, the donor gives something worth value to the donee…
Strategies to Avoid Probate
Few words evoke such strong negative imagery as the term “probate.” For most people, they are not sure exactly what probate entails, but they know they want to avoid it…
Lending Money to Family and Friends – The Rules
Times can get financially rough. People go through difficult periods in life and might be strapped for cash and need an additional source of funds. Perhaps the cash is needed…
Estate Planning Strategy: The Irrevocable Life Insurance Trust for Business Owners
Business owners are particularly sensitive to cash flow and liquidity needs. This can be especially true of the business owner’s estate after death. The estate needs cash to continue business…
Charitable Giving Options
As this issue is devoted, in part, to the issue of philanthropy, I thought it prudent to review some basic charitable gifting techniques and how those techniques can be employed…
