A generation-skipping trusts allows you to distribute your money and property to your grandchildren, or even to later generations, without taxation, by using your lifetime exemption to offset any tax that could be due.
Author Archives: Skvarna Law
05
Sep
Sep
A trust (specifically, a Revocable Living Trust) (RLT) is a formal relationship. In it, the trust-maker names a trusted individual (trustee) to manage accounts and property.
28
Aug
Aug
Part 2 in a 2-Part Series Low Interest Rates & Estate Planning Last week, we began a two-part series about how to share your wealth through estate planning. To read part one in the series, click here. This week, we conclude by examining other options for sharing your wealth. We examine charitable gifts, including intrafamily loans.
21
Aug
Aug
Your attorney can design the trust to pay the grantor a stream of income at least annually and over a specific term of years. At the end of the specified term, payments end.
Assets, Estate Planning, Heirs, Trusts, Wills
Why Your Heirs May Receive a Smaller Inheritance Than They Expect
14
Aug
Aug
Often, family members “lawyer up” and settle in for a long, drawn-out court battle. In such cases, attorney fees often spiral into the tens and even hundreds of thousands of dollars.
Estate Planning, Estates, Heirs, Inheritance, Uncategorized
Why Your Heirs May Receive a Smaller Inheritance Than They Expect
07
Aug
Aug
Depending on the size of the estate and the nature of the accounts and property held by the estate, these expenses reduce the final amount available for heirs or beneficiaries.
Part 2 in a 2-Part Series Last week, we started a two-part series about how to prepare your estate documents prior to heading out for a summer vacation. Click here to read part one of this series. More documents to gather before heading out for a summer vacation:
(Part 1 of a 2-Part Series) After months of near confinement in our homes, most Americans are stir-crazy. As such, we are eager to travel to make vacation plans. As more states are open, take these precautions before your summer travels.
Assets, Elder Care, Estate Planning, Guardianship, Uncategorized
Sandwich Generation: Caring for Kids & Parents
11
Jul
Jul
Or, you could manage their financial affairs as a conservator. This takes time and money. It also involves public testimony and evaluations about your parents’ health and living situation.
03
Jul
Jul
After someone you love dies, a court will disperse their money and property either according to their will or to the state’s default distribution scheme. (This is often found in its “intestacy” statute). While most people prefer to manage the settlement process ASAP, the probate process often takes between 18 and 24 months. Yes, you read […]