Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.
The Uniform Gifts to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA) are sometimes called the “granddaddies” of college savings accounts.
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs.
When you inherit property, such as a house or stocks, the property is usually worth more than it was when the original owner purchased it.
There are a number of different kinds of trusts, but they fall into two basic categories: testamentary and inter vivos.
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.
More and more transactions are done digitally, but estate planning has lagged behind technology. That may be changing, though. Even before the coronavirus pandemic made social distancing necessary, electronic wills were gaining legitimacy.
Many people incorrectly believe that if they are single, they don’t need a will or other estate planning documents.
Were you aware that many parents use 529 savings plans as a way to let their child’s college funds grow tax-free? These plans, however, may not be just for parents, and they do not have to be used by a specific beneficiary. There are potentially huge benefits to using your 529 savings plan as …
If a charitable cause is near to your heart, it may be likely that you will donate time and money during your lifetime. Giving while you are living also comes with the benefit of a charitable tax deduction. Although this may be what many people focus on when making donations, there are many other ways …