Inheritance trusts take on critical importance in wealth management, particularly for multi-generational families. Read more
Trust
In the next decade, 15% of American adults expect to receive an inheritance, according to the latest findings from the New York Life Wealth Watch survey. However, they’re not all confident they’ll be able to manage the funds. On average, adults who expect to receive an inheritance anticipate receiving $740,000. However, just 42% feel very comfortable handling that new wealth. Read more
Trust distributions might be taxable, with the tax liability potentially varying based on factors, such as the type of trust, the kind of distributions and a beneficiary’s tax bracket. Read more
Estate planning not only makes things easier for your loved ones if you become incapacitated or when you’re gone, but it also does these three important things. Read more
If you plan to pass assets through a will, just remember that most of the time, that will becomes public once the probate estate is closed. Therefore, if you left one of your children out, left your favorite a bit more or are just a private person, you may be better off with a trust. Read more
Whether planning as the predecessor or the next generation, having the right processes — and partners — in place will set up the transition for success. Read more
There are many reasons, however, to incorporate asset protection trusts into even the simplest estate plan–especially in the context of passing assets to children and grandchildren. Read more
For those who want to avoid the court-controlled process that takes place after a person’s death (known as ‘probate’)—using a Revocable Living Trust is typically the best way to do so. Read more
These six steps can help future caregivers know where aging parents stand financially, as well as help them to avoid surprises that could imperil their own retirement. Read more
