When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
Minnesota State University, Mankato President Edward Inch announced today that Robert Larson of Leesburg, Florida, has donated $1.4 million to the University in honor of his late wife, Virginia Larson, a Minnesota State Mankato alumna, who taught elementary school for 12 years.
Use it to fine-tune the variables, including how much to give, how it changes your tax picture, how your cashflows are impacted, and how much is left to heirs.
Increasing tax changes for the wealthy are coming, and motivation to find ways to protect the wealth is getting increased attention, according to a recent article from CNBC entitled “Here’s how to reduce exposure to tax increases with charitable contributions.” Charitable remainder trusts (CRTs) and Donor Advised Funds (DAFs) are options for people who are…
No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.
While memorials and tributes continue to pour in, one thing is clear: Prince Philip had clearly defined wishes regarding how he wished to pass, as well as his funeral plan.
Although uncertainty surrounding the likelihood of tax reform continues for the moment, there are still several wealth transfer strategies that can be considered by those wanting to make gifts.
By being very selective about who receives which type of money—whether Traditional or Roth IRAs, after-tax brokerage accounts, life insurance, etc.—you can dramatically cut the share that goes to the IRS and increase the amount going to your family.
Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.
The tragic recent death of Tony Hsieh, the 46-year-old former CEO of Zappos, reminds us of the importance of estate planning.
2500 S Power Road
Bldg 14 Suite 132
Mesa, AZ 85209
Copyright © LifePlan Legal AZ. All rights reserved. Some artwork provided under license agreement.
Privacy Policy | Disclaimer
