by Jeff Barnett | Apr 16, 2018 | Trusts, Wills & Estate Planning
If you are ever appointed a trustee, you will have a fiduciary duty to act on behalf of the beneficiaries. If you breach that duty, you may find yourself in court. Being a trustee is not an easy job. Trustees must follow the terms of the trust and are accountable to...
by Jeff Barnett | Jan 22, 2018 | Trusts, Wills & Estate Planning
Consider this dilemma faced by a high-net worth individual: He doesn’t want his heirs to be burdened with estate taxes so he takes out a life insurance policy to cover the tax bill. But then the proceeds of the insurance policy wind up as part of his estate —...
by Jeff Barnett | Dec 9, 2017 | Trusts, Wills & Estate Planning
When developing an estate plan, a revocable trust can provide benefits that, in some cases, significantly outweigh the cost of setting one up. A revocable trust offers great flexibility, can save money by avoiding probate, provides privacy about your finances and it...
by Jeff Barnett | Oct 12, 2017 | Wills & Estate Planning
Legislation enacted a few years ago made permanent changes to the federal estate and gift tax rules affecting estate planning for single individuals. Specifically, here are the significant estate changes in the American Taxpayer Relief Act: The 2017 federal estate tax...
by Jeff Barnett | Aug 8, 2017 | Wills & Estate Planning
The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. There are a couple different ways you can assume the required duties: You may be named as the executor of the...
by Jeff Barnett | Jun 20, 2017 | Wills & Estate Planning
In the world of college financial aid, good estate planning strategies often result in less financial aid for your child or grandchild. For instance, a strategy included in many estate plans involves making annual tax-free monetary gifts to children. Annual gifts can...
