Thoughts on Raising Financially Responsible Children

Category: Wealth Transfer

June 10, 2014  |  

Thoughts on Raising Financially Responsible Children

Teaching financial responsibility to children is a great way to provide them with knowledge and experience that will help them grow into financially stable adults.  Our first lessons about money come from our parents and they set the frame-work for the critical lessons and behaviors to promote healthy money attitudes and habits in children. Lessons […]

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April 29, 2014  |  

Decanting a Trust

The Basics A trust is a legal relationship where someone (the grantor) arranges with another (the trustee) to hold property for the benefit of a third-party (the beneficiary). The grantor transfers a split ownership of property–legal ownership to the trustee and beneficial ownership to the beneficiary. The grantor names the beneficiary and trustee and establishes […]

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October 17, 2013  |  

Unintentional Gifting Errors

We give gifts for many good reasons, but what if I told you that you may be gifting assets without even realizing it, or not gifting assets that you thought you were gifting?  It sounds crazy, but it happens every day.  Complex gift and estate tax laws are at the heart of these unintentional gifts.  […]

August 16, 2013  |  

What is a Disclaimer of Property?

A disclaimer is an estate planning tool that allows you to redistribute transfers of assets or property by refusing to accept a gift, bequest, or other form of property transfer.  Once disclaimed, the property is then distributed to the next recipient.  The person disclaiming the property, a disclaimant, is not regarded as having received the […]

January 14, 2013  |  

2012 American Taxpayer Relief Act

Executive Summary On New Year’s Day 2013, Congress passed a far-reaching new law intended to avert the so-called fiscal cliff. The American Taxpayer Relief Act, signed into law by President Obama on January 2, 2013, impacts every taxpayer. Not only does the new law make permanent reduced income tax rates for most taxpayers, it extends […]

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November 1, 2012  |  

Key Estate Planning Documents

Estate planning is a vital component of every financial plan, regardless of the size of the estate. Unfortunately, it’s also an area that is commonly overlooked. This often results in wasted dollars and emotional hardship that could otherwise be minimized with proper advance planning and action. Key Estate Planning Documents You Need There are four […]

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May 29, 2012  |  

Why You Need a Will

Do you have a will? If not, you have plenty of company.  Recent studies show that 55% of adult Americans lack a will. However, there are compelling reasons to create a will soon. For starters, even though we are living longer, we cannot predict when we will move along. Also, without a will, some of […]