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    Home / Archives for trusts

    A Special Option for Special Kids

    June 27, 2020 by Brandon McGee

    When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26. A Special Option for Special Kids … [Read more...] about A Special Option for Special Kids

    Filed Under: Estate Planning, Legal Education Tagged With: estate planning, planning, trusts

    Basics of Estate Planning: Powers of Appointment – Part 2

    June 26, 2020 by Brandon McGee

    Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. This article will examine the different types of powers of appointment and how that can impact taxation. Basics of Estate Planning: Powers of Appointment – Part 2 … [Read more...] about Basics of Estate Planning: Powers of Appointment – Part 2

    Filed Under: Estate Planning, Legal Education Tagged With: estate planning, power of appointment, trusts

    Basics of Estate Planning: Privacy and Estate Planning

    June 23, 2020 by Brandon McGee

    Privacy is important, especially in today’s world. Learn how estate planning can enhance or reduce your privacy. Read on to find out more. Basics of Estate Planning: Privacy and Estate Planning … [Read more...] about Basics of Estate Planning: Privacy and Estate Planning

    Filed Under: Estate Planning, Legal Education Tagged With: estate planning, privacy, probate, real estate, trusts, wills

    Basics of Estate Planning: Powers of Appointment – Part 1

    June 20, 2020 by Brandon McGee

    Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. An upcoming article will examine the tax consequences of powers of appointment. Basics of Estate Planning: Powers of Appointment – Part 1 … [Read more...] about Basics of Estate Planning: Powers of Appointment – Part 1

    Filed Under: Estate Planning, Legal Education Tagged With: estate planning, power of appointment, trusts

    Planning for Special Needs Children

    June 13, 2020 by Brandon McGee

    Planning is important when providing for any of your children. But planning is even more important for special needs children. Without proper planning, an inheritance can jeopardize a special needs child’s needs-based benefits, such as SSI or Medicaid. Read on to learn more about planning for special needs children. Planning for Special Needs Children … [Read more...] about Planning for Special Needs Children

    Filed Under: Estate Planning, Legal Education Tagged With: planning, special needs, trusts

    Kiddie Tax is Worse Than Ever

    June 3, 2020 by Brandon McGee

    The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever

    Filed Under: Estate Planning, Legal Education Tagged With: beneficiaries, income tax, Kiddie Tax, trusts

    529 Plans: Planning for Education with a Tax and Asset Protection Bonus

    September 2, 2019 by Brandon McGee

    Planning for Education with a Tax and Asset Protection Bonus

    Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how 529 plans may have tax advantages when providing for education. Further, the article looks at how such a plan may provide asset protection in bankruptcy, as well. 529 Plans: Planning for Education with a Tax and Asset Protection Bonus … [Read more...] about 529 Plans: Planning for Education with a Tax and Asset Protection Bonus

    Filed Under: Estate Planning, Legal Education Tagged With: 529, education, planning, trusts

    Planning for Education Expenses

    September 2, 2019 by Brandon McGee

    Planning for Education Expenses

    Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how a trust can be used to provide for your child or grandchild’s education. The article looks at how a trust can protect those funds. Planning for Education Expenses … [Read more...] about Planning for Education Expenses

    Filed Under: Estate Planning, Legal Education Tagged With: 529, education, planning, trusts

    Beneficiary Designations, etc., Aren’t a True Substitute for a Trust

    June 21, 2019 by Brandon McGee

    TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust

    Filed Under: Estate Planning, Legal Education Tagged With: beneficiary designation, joint tenancy, pay on death, POD, TOD, transfer on death, trusts

    How Are Trusts Taxed?

    December 1, 2018 by Brandon McGee

    Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more. How Are Trusts Taxed? … [Read more...] about How Are Trusts Taxed?

    Filed Under: Estate Planning, Legal Education Tagged With: grantor trust, nongrantor trust, trusts

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