Eddie Van Halen was one of the most influential musicians of all time and made sure the next generation of artists have the resources necessary to further their musical education.
Investing for retirement is one of the most important steps you can take toward building a secure financial future for you and your family. The sooner you can start, the better. Contributing to a retirement account can help you work toward your goals and may provide tax advantages to boost your progress.
Some people draft wills or trusts to ensure that the loved ones they will eventually leave behind own a piece of the properties the former will be leaving behind in case of their death.
For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Grantor retained annuity trusts, intentionally defective grantor trusts, spousal lifetime access trusts, oh my! If you overhear two estate planning attorneys at a coffee shop, it would not be unreasonable to think that all clients have estate plans filled with trusts.
