Latest articles by Timothy Barrett, Trust Counsel
-
Charitable Giving Strategies for Not-as-Wealthy Donors
High-net-worth charitable giving could decline for years because of high inflation, so charities look to highlight tax-savvy options for average investors.
-
Divorcing a Trustee: Do You Need a Prenuptial?
For any corporate trustee you choose, there should be some minimum requirements, and it’s best to check its reputation ahead of time to find out if its trust relationships end amicably.
-
How Community Property Trusts Can Benefit Married Couples
estate planning Getting a step-up in basis when each spouse dies can be a big tax advantage, one that has not been available to those who live in common-law states. However, it may now be – through a community property trust.
-
2 Strategies to Reduce Taxes from the Sale of Your Business
small business Long before you sell your business is the right time to explore ways to protect your proceeds from harsh taxation. Two possible strategies: the Qualified Small Business stock exclusion and a non-grantor trust.
-
Is Crypto Investing Really Worth It?
cryptocurrency If your interest in investing in Bitcoin or other cryptocurrency is based mainly on a fear of missing out, step back for a second and do some research.
-
Should You Own Your Home in Your Trust?
estate planning Homes are illiquid assets that produce no income and come with ongoing costs for upkeep. Those issues can cause some snags with your trust.
-
For Entrepreneurs, Confidence in Your Advisers Is Your Most Important Investment
entrepreneurship When your business and estate are at stake, can you really count on the people who are helping you? Trust in your team starts with asking the right questions.
-
Generation-Skipping Transfer Tax Basics
tax planning If your estate is big enough, you should know how generation-skipping transfer taxes work, and how to avoid paying more than you must.
-
How Does a Spendthrift Trust Differ from an Asset Protection Trust?
estate planning Spendthrift trusts include similar protections to an asset protection trust and are more widely respected in other states, but they also come with their own rules and requirements.
-
What Role Should Your Children Play in Your Business Succession Plan?
small business A well-structured business succession plan covers a lot of ground: taxes, trust strategies, market valuations and much more. But some of the trickiest issues involve something much closer to home: your kids. What makes sense and what’s fair?
-
Legal Advice for Parents with Kids in That ‘Awkward Stage’ of Semi-Adulthood
personal finance Your child is over 18 and legally an adult, but still your dependent. Say he’s away at school and is in a car crash. Would you have the right to talk with his doctors or deal with his bills? You need the proper paperwork in place to make sure of it.
-
Getting the Best of Both Worlds from an Irrevocable Trust
estate planning Irrevocable trusts open the door to important tax strategies, but they mean the loss of control of the assets held in the trust … or do they? Today’s irrevocable trusts can be designed with some flexibility in mind.
-
Your Relationship with Your Financial Adviser? It’s Complicated
Financial Advisers Social scientists theorize that people have two main decision-making styles: mostly emotional or mostly rational. This can make a financial adviser’s role in helping clients make good choices interesting … and surprising, as two clients’ stories show.
-
2 Key Traits Smart Investors Share with Great Chess Players
investing Watching “The Queen’s Gambit” got me thinking about how investing and chess have some fascinating similarities. To be successful, you must look many moves into the future, and you have to be able to spot the difference between a gambit and an opportunity.
-
The Politics of Election-Year Financial Planning
retirement The competing candidates for president are polar opposites in terms of taxes, adding a new urgency to year-end tax planning. Just what are they proposing?
-
When Businesses Fail or People Can’t Pay Bills, Liability Limits Can Save the Day
personal finance From LLCs to trusts, protections are here to help — not just companies and individuals, but our whole economy itself. So, anyone struggling in these trying times should be aware of their rights and new possibilities for recovery.
-
How to Take Control of Your Future in the New Economy
personal finance Businesses have tightened their belts and found new ways to earn money, and so should you.
-
Who Can Still Do a Stretch IRA after the SECURE Act: Explaining the Exceptions to the Rule
IRAs Many beneficiaries who inherit IRAs lost a major tax break recently, but five types of people still qualify for this “stretch IRA” benefit. Are you among them?
-
The Secret to Post-COVID Networking? Being There
retirement The days of happy hours, conferences and corporate mixers seem long ago, thanks to coronavirus. But there is an effective, surprisingly low-tech way to make business connections and build relationships.
-
Wealth Advisement Could Change Due to Coronavirus
Financial Planning Businesses of all types are adjusting to the new normal, and wealth advisory services are changing with the times, too. Some of these changes eventually might not be for the best.
-
Tax Planning Strategies for the 1% Are a Gamble
taxes Families with $30 million to $60 million in low-cost-basis assets must put their chips down on one of two bets: Count on the current high federal estate tax exclusion amounts being extended or wager that they will sunset in 2026.
-
Spot the Warning Signs of Fiduciary Financial Abuse
retirement Fiduciaries are expected to do right by those they represent, but that isn't always the case. They often work with little or no oversight, so abuse isn't caught until too late. To protect a loved one, or yourself, here's what to do.
-
Protecting Teens' Mental Health Is a Wise Investment
college As kids settle into college life, parents and teachers need to be on the lookout for signs of anxiety and depression and be ready to step in to help.
-
How a Special Needs Trust for Your Child Can Fall Apart
retirement One woman's struggle to keep a roof over her head and food on the table for herself and her disabled daughter shows what can happen when an ex or other family members fail to properly shelter assets. The child's Medicaid and SSI benefits could be in jeopardy.
