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As middle class estates get larger, and the divorce rate grows, more and more financial planners are utilizing beneficiary controlled trusts to pass inheritance on to future generations without loss to the beneficiary's creditors, ex-spouses, or even the IRS.
Have you blindly named your spouse as the beneficiary of your IRA? Is this your best choice? Depending on your situation and objectives, other beneficiary elections may be better. Here are three options you may not have considered.
Why is making the proper beneficiary election for your IRA important? Does your election follow the rules? Is it the best one for your family circumstances? Is there a better one? Find out by taking a look a few common beneficiary elections and their results.
Briefly describes how living trusts protect assets for your loved ones.
Many people have the mistaken impression that their Last Will and Testament determines what happens to their possessions when they die. As John, a reader in Maryville, TN learned, that's not necessarily true.
Even if a special needs trust is properly prepared, the special needs trust can affect the child's ability to receive government benefits if the special needs trust is not properly administered.
Your IRA may represent the bulk of your estate. Care must be taken to assure that your wishes for the distribution at your death follow the rules. Here are the rules and several common mistakes to avoid.
Your IRA could be one of your biggest assets. Do you know the IRA distribution rules at death? Do you have your IRA set up so your desires match the rules? Here's a quick primer that could help you avert costly mistakes.
Over views what constitutes a trust being revocable and/or becoming irrevocable. Reminds individuals that unforseen illness or disaster could create circumstances that require revocation of a trust.
There are few absolutes in estate planning, but this is one. If a child has a significant mental disability, the answer is parents should not leave an inheritance outright to a child with a significant mental disability.
If you have been reading my articles, you are probably familiar with the concept of creating and using land trusts for privacy and protection of your real estate. However, what about your ownership of notes, mortgages, deeds of trust, leases and options that may appear on public record? What about cars, boats, mobile homes and other items that are registered and recorded in public places? Good news... there is a special trust just for that purpose!
An overview of the living trust, the insterments intention and downside. Explores the elements of a trust and one's ability to control disputes after their death.
The pooled trust is now proving to be a very popular planning tool for persons in need of long-term health-care services and for whom the excess-income option did not work because it would not allow them sufficient money to live in the community and qualify for Medicaid. This article gives some detail on practical uses of this tool for elder care planning.
When a Mexican foreigner is wishing to invest or purchase waterfront property in Mexico, he has two options on how he plans to hold onto the asset; either by establishing a Mexican Corporation or by establishing a Mexico Bank Trust. This article will explain some tips on what to review in a Mexico Bank Trust.
Own a piece of Paradise. That's the point. These are the 6 top most asked questions when purchasing property in Mexico...
We are often asked this question: What happens if the beneficiary was unemployed for a period of time before a new employer files an H-1B transfer petition? Our experience is that the USCIS uses its discretion and approves the transfer with change of status when the unemployment period is comparatively short.
A Last Will and Testament controls the distribution of your property at death and you may give some one you trust guardianship over your children after your death. No property is transferred or effects will take place, a will is not effective as long as you're living.
If you are contemplating buying life insurance to pay estimated future estate taxes, you will probably want to use an Irrevocable Life Insurance Trust. Here's why...
Supplemental-needs trusts (SNTs) are becoming popular planning tools for persons with disabilities. These trusts, sometimes called special-needs trusts, are aimed at enhancing the lives of disabled individuals without jeopardizing their eligibility for Medicaid and Supplemental Security Income (SSI).
With proper planning you can put in place the mechanisms to stretch taxable distributions from an inherited IRA. The distribution rules that come into play at the death of the retirement plan owner are usually found in a plan document that few employees or advisors ever read.
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