Trust funds are set up as legal entities for the benefit of group or
individual. The following is a look at what is a trust fund.
A trust fund is a legal entity that holds some type of assets that another person or group will benefit from.
What is a Trust Fund?
Posted in:
Estate Planning
Leaving Your 401(k) to a Charity
Posted in:
Estate Planning,
Giving Back
In some cases, leaving your qualified retirement account to a charity and other assets to your heirs can save on taxes.
An important part of establishing an IRA, 401(k), 403(b) or other qualified plan is naming a beneficiary. On the positive side, this helps ensure that upon your death, any remaining account balance will transfer directly to your heirs without going through probate. On the negative side, your heirs could lose up to 80 percent of the account’s balance to income and estate taxes, both federal and state.
An important part of establishing an IRA, 401(k), 403(b) or other qualified plan is naming a beneficiary. On the positive side, this helps ensure that upon your death, any remaining account balance will transfer directly to your heirs without going through probate. On the negative side, your heirs could lose up to 80 percent of the account’s balance to income and estate taxes, both federal and state.
Estate Planning: Supporting a Noble Cause
Posted in:
Estate Planning,
Giving Back
Charitable trusts are a handy tax-saving tool. But they can also greatly benefit a charity of your choice.
More and more retirees are volunteering for charities and non-profits in an effort to contribute to their community and stay active and healthy. Even the Peace Corps has seen a large increase in the number of older volunteers. But there’s a way you can contribute to society without going overseas, and it’s called a charitable trust.
More and more retirees are volunteering for charities and non-profits in an effort to contribute to their community and stay active and healthy. Even the Peace Corps has seen a large increase in the number of older volunteers. But there’s a way you can contribute to society without going overseas, and it’s called a charitable trust.
Estate Planning: Having Faith in your Legacy
Posted in:
Estate Planning
Discussing death is never a pleasant aspect of financial planning, but
it’s certainly one of the most important. While no one likes to discuss
his or her own mortality, many of us wonder how we’ll be remembered.
Perhaps you want your legacy to live on through the work of a charity,
or maybe you’d rather bypass the probate that is associated with a will.
Whatever the reason, a trust may be an option for you to consider.
Estate Planning: Ensuring your Legacy
Posted in:
Estate Planning
Making sure you have a will and a financial power of attorney are two crucial steps in the estate planning process.
Deciding how you want to be remembered after you’re gone can be one of the most important decisions you make. Do you want your legacy to be judged by your entire life or by a bitter legal battle over your assets?
Deciding how you want to be remembered after you’re gone can be one of the most important decisions you make. Do you want your legacy to be judged by your entire life or by a bitter legal battle over your assets?
Estate Planning: Before you Begin
Posted in:
Estate Planning
Leaving a proper legacy has become a science. Here are the basics to help get you started.
A person’s legacy cannot be measured by one solitary event in his or her life. Rather, legacies, like lives themselves, must be measured as a whole. If you’ve ever taken a step back and examined your own life and legacy, what have you found?
A person’s legacy cannot be measured by one solitary event in his or her life. Rather, legacies, like lives themselves, must be measured as a whole. If you’ve ever taken a step back and examined your own life and legacy, what have you found?
Estate Planning: An Introduction to your Legacy
Posted in:
Estate Planning
Estate planning can be difficult and confusing. Here are the four basic ways to plan.
If the controversy over Terri Schiavo showed us anything, it’s that estate planning is more important now than ever before. Regardless of personal opinions, in the end, it was Terri who really mattered. And it is your choices and beliefs that matter when it comes to your own decisions.
If the controversy over Terri Schiavo showed us anything, it’s that estate planning is more important now than ever before. Regardless of personal opinions, in the end, it was Terri who really mattered. And it is your choices and beliefs that matter when it comes to your own decisions.
Control Your Legacy with a Private Foundation
Posted in:
Giving Back,
Estate Planning
Private foundations can let you control your gifts, reduce taxes and impart your values to future generations.
Call it the golf and gala glut: the growing list of charitable parties, balls and outings aimed at raising funds for charitable causes from religious to educational to medical research. If your calendar has filled with worthy causes seeking your name and your wallet, you may want to consider channeling your time and money into a private family foundation.
Call it the golf and gala glut: the growing list of charitable parties, balls and outings aimed at raising funds for charitable causes from religious to educational to medical research. If your calendar has filled with worthy causes seeking your name and your wallet, you may want to consider channeling your time and money into a private family foundation.
Estate Planning: Avoiding Probate
Posted in:
Estate Planning
Probate can be costly and time consuming. We’ll show you a few potential ways to save.
When Elvis Presley died, his estate was worth over $10 million dollars1. Then it went through probate.
After appraisal costs, legal fees, executor’s fees, and estate taxes, “The King’s” estate was left with only $3 million.
When Elvis Presley died, his estate was worth over $10 million dollars1. Then it went through probate.
After appraisal costs, legal fees, executor’s fees, and estate taxes, “The King’s” estate was left with only $3 million.
