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Latest Blog Posts

Using Swap Powers in your Trust to Reduce Income Taxes

Posted on: January 16th, 2017
Many clients have assets in irrevocable trusts to protect themselves from estate taxes. Estate tax thresholds have been raised significantly. At the same time, income tax rates have been increased. These new income tax thresholds have been labeled as the new “death tax”. With this “death tax,” an important estate plan strategy is to make sure that heirs can take advantage of the step-up in basis when grantors pass away....

The Purpose of a Gun or Firearm Trust

Posted on: January 9th, 2017
The purpose of a Gun or Firearm Trust is to keep control of, minimize taxes on, and provide for the safe and lawful use of your firearms. Whether the gun owners possess only a shotgun or rifle, or also possesses NFA firearms like and AR-15, Gun Trust can play a crucial role....

Standalone Retirement Trusts: A Crucial Component of Estate Planning

Posted on: December 14th, 2016
For most Americans, the majority of one’s wealth is held in retirement accounts. When it comes to inheritance and estate planning, special considerations are necessary to ensure that these assets are protected and distributed according to the account holder’s wishes. It’s critical for law practices to have knowledge of all the options available for retirement asset transfer, in order to best serve client needs in this area....

Top Reasons Everyone Needs a Comprehensive Power of Attorney

Posted on: October 18th, 2016
The benefits of a highly detailed, comprehensive power of attorney are numerous. Unfortunately, many powers of attorney are more general in nature and can actually cause more problems than they solve, especially for our senior population. Here we highlight the benefits of a comprehensive, detailed power of attorney, including some of the provisions that should be included. A proper starting point is to emphasize that the proper use of a power of attorney as an estate planning and elder law document depends on the reliability and honesty of the appointed agent. ...

Reconsider Outright Inheritances

Posted on: July 11th, 2016
First of all, the discretionary lifetime trust cordons off the inheritance. A vengeful ex-spouse, plotting business partner, unshakeable creditor, or plaintiff in a lawsuit against your beneficiary will have a very hard time breaking down the wall surrounding the property and assets you’ve left. Of course, no wall is impenetrable, but this one can be made quite strong....

Funding Your Trust: Is there Fuel in the Racecar?

Posted on: February 8th, 2016
Having a perfectly crafted estate plan that meets your wishes to a tee is all well and good, but will your assets go through it, or through your will instead?...
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