10 Things You Should Know About Living Wills

10 Things You Should Know About Living Wills

Specifically, a living will outlines the procedures, medications, and treatments you would want—or would not want—to prolong your life if you become unable to discuss such matters with doctors yourself.

What Is A Special Needs Trust?

What Is A Special Needs Trust?

Fortunately, the government allows assets to be held in what’s known as a “special needs trust” to provide supplemental financial resources for a physically, mentally, or developmentally disabled child without affecting his or her eligibility for public healthcare and income assistance benefits.
However, the rules for such trusts are complicated and can vary greatly between different states, so you should work with us in order to create a comprehensive special needs trust that’s properly structured and appropriate for your child’s specific situation.

3 Estate Planning Issues For LGBTQ+ Couples—Part 1

3 Estate Planning Issues For LGBTQ+ Couples—Part 1

Although same-gender marriage is legally recognized in all 50 states, long-held prejudice at both the political and family level continues to create complications for both married and unmarried same-gender couples.

How Do Trusts Avoid Taxes?

How Do Trusts Avoid Taxes?

Trust income is taxed at the highest tax bracket applicable to individuals as soon as there is over $12,950 of income, so in some cases a trust can be drafted to provide that the tax consequences pass through to the beneficiary and are taxed at his or her rates.

Why You Need a Trust – Even if You Aren’t Rich

Why You Need a Trust – Even if You Aren’t Rich

When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is actually a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money.

What Are Trusts Used For?

What Are Trusts Used For?

A trust is a legal creation set up to benefit someone or something. For example, some people set up trusts to benefit their children, their grandchildren, or even charities. It is easiest to understand if you think about three separate people being involved. One person, called the grantor, funds the trust somehow, by placing money or other assets into it.

With Tax Laws in Flux: What Should You Do Now?

With Tax Laws in Flux: What Should You Do Now?

Given that the 2017 Tax Cuts and Jobs Act was not passed until December 2017, and the same thing could happen here, with some provisions potentially impacting your taxes this year, as well as provisions that could impact decisions you’d make for next year, but those decisions must be made now, what should you do?