Living trusts have become a popular estate planning tool for many reasons – they offer flexibility and protection while helping you avoid the probate process. However, creating the trust is not enough by itself. One of the most common mistakes that people make is neglecting to actually fund the trust. […]
The Internal Revenue Service recently released Revenue Procedure 2020-45 which applies to taxable years beginning in 2021. This announced the annual inflation adjustments for more than 60 tax provisions. A few of the major items related to trusts and estates include the following: The basic exclusion amount (which includes the […]
When a relative or other loved one dies, there is a period of uncertainty even if there is a will or trust in place. Family members are grieving and yet strained family relations can still come to the surface. Most people do not want to cause trouble during this time […]
Business owners spend a lifetime building a successful enterprise. If things go wrong, however, you could be putting your entire livelihood at risk. Without proper asset protection planning, your personal assets could be exposed to claims from creditors and other parties. Unfortunately, this is something that many business owners put […]