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Schedule Your Free Consulation06
Mar
I’m a Survivor… and Now I Have my Own Trust?
Many married couples share almost everything, including finances. This may be reflected in their estate plan by using one joint living trust instead of two separate trusts. Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spou...
View MoreCategories: Estate Planning Trust Administration Trusts
25
Mar
What Is Not Taxable Today Might Be Taxable Tomorrow
Counting Down to 2026: Will We Keep the $10 Million Estate Tax Exemption? The year 2026 is fast approaching, and it brings substantial changes to discuss with your clients regarding estate taxes. The Tax Cuts and Jobs Act (TCJA) introduced a significant increase in the federal es...
View MoreCategory: Advisors
06
Mar
Why You Might Have an Estate Tax Issue Soon
The Countdown Begins: Will we keep the $10 Million Exemption? The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate tax exemption to $10 mil...
View MoreCategories: Estate Planning Taxation
06
Mar
Should You Share Your Estate Planning Details With Loved Ones?
When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may depend on your u...
View MoreCategories: Estate Planning Trusts
06
Mar
Irrevocable Woes (3/3)
While many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you are the beneficiary of a trust created by your great-grandfather over 70 years ago, and that trust no longer makes sense. Or maybe you created an irrevocable trust over 20 years a...
View MoreCategory: Trusts
06
Mar
Irrevocable Woes (2/3)
5 Good Reasons to Decant a TrustToday, many estate plans contain an irrevocable trust that will continue for the benefit of a spouse's lifetime and then continue for the benefit of several generations. Because trusts like these are designed to span multiple decades, it is...
View MoreCategory: Trusts
06
Mar
Irrevocable Woes (1/3)
3 Examples of When an Irrevocable Trust Can (and Should) Be ModifiedDid you know that irrevocable trusts can be modified? If you did not, you are not alone. The name lends itself to that very misconception. However, the truth is that changes in laws, family, trustees, and financ...
View MoreCategory: Trusts
06
Mar
How Much Authority Does a Trustee Have Over the Stuff in My Trust?
A trustee is a person or entity responsible for managing and administering your trust according to your instructions and in accordance with state law. They are considered a fiduciary (meaning they are held to a higher standard of care and owe certain duties to the beneficiaries)...
View MoreCategory: Trusts
06
Mar
North Carolina’s No More: The Fall-out from The Kimberly Rice Kaestner 1992 Family Trust v. North Carolina Dep’t of Rev.
A recent decision by the North Carolina Business Court could have significant ramifications for North Carolina’s taxation of trusts. In Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Department of Revenue, the court struck down North Carolina’s statute that taxes tru...
View MoreCategories: Estate Planning Taxation Trusts
25
Mar
2023 in Review: Estate Planning Insights & Strategies for the New Year Ahead
For some, 2023 can be summed with two letters: AI. From the promises (“Now we are all ivy-league graduates! ”) to the doomsday predictions (“Terminator is no longer science-fiction! ”), 2023 has been the year of artificial intelligence. It was also the year that vinyl records exce...
View MoreCategories: Advisors Charitable Planning Elder Law Estate Planning Firm Taxation Trusts
