Arranging for resources to be given to charity can be part of your estate planning efforts, and this can be a very rewarding way to foster a lasting legacy. To engage in philanthropy you must select a vehicle of charitable giving. There are those who opt for private family foundations, and we are all aware of famous ones such as the Rockefeller Foundation and the Ford Foundation. Very large and well-funded private family foundations are going to be staffed, and there will be … [Read more...] about The Rewards of Giving
Legacy Planning
Estate Planning: Let the New Year Inspire You
Many people do some soul-searching when a new year begins. As you reflect on your life and your responsibilities you would do well to consider the stages of life that lie in the future. Everyone should have an estate plan in place, and this applies to adults of all ages. When there are people relying on you it is important to make sure that you take steps to provide for them should the unthinkable take place. No one knows what lies ahead, and tragedies do strike as we all … [Read more...] about Estate Planning: Let the New Year Inspire You
Larry Hagman Left Valuable Property Behind
Fans of the classic television series Dallas certainly remember Larry Hagman well. He played the memorable character J.R. Ewing, the man that viewers loved to hate. We lost Larry Hagman on November 23. He had been battling throat cancer and was being treated at the Medical City Dallas Hospital in Dallas, so ironically he passed away in the city that he is so intimately connected with via his work as an actor. According to reports the estate of Larry Hagman includes some … [Read more...] about Larry Hagman Left Valuable Property Behind
End of Year Signals End of Unique Opportunity
Estate planning should be viewed as an ongoing, dynamic process. Things do not stand still, and events can and do take place that can make an estate plan revision necessary. We are experiencing one of these events at the present time. There are significant changes to the estate/gift tax parameters on the horizon in 2013, and because of these changes you may want to take certain actions before 2012 comes to a close. At the present time the unified gift/estate tax exclusion … [Read more...] about End of Year Signals End of Unique Opportunity
Legacy Planning: Share Your Wisdom on a Blog
Legacy planning involves leaving behind things that will last long after you are gone. Aside from financial resources perhaps the best thing that you can offer your loved ones is your wisdom gained through personal experiences. Now that we live in the age of the Internet a unique opportunity to do this exists. By tapping into resources that are provided by sites like WordPress.org you can create your own blog for free. Many people are not aware of just how easy it is to have … [Read more...] about Legacy Planning: Share Your Wisdom on a Blog
Proper Planning to Provide Long-Term Financial Underpinning
For some people receiving an inheritance is the only life event that is likely to take place that will provide a significant influx of financial resources. But at the same time, this is going to mean that a parent or grandparent that was always there in a pinch will no longer be around to assist if financial difficulties were to arise. As you are engaged in your estate planning efforts you may take the above to heart. What if a loved one was to burn through his or her inheritance … [Read more...] about Proper Planning to Provide Long-Term Financial Underpinning
Greater Resources, Greater Risks
Estate planning for high net worth families involves responding to some specific challenges. The first thing to brace yourself for is the federal estate tax. This tax could consume a significant percentage of your legacy if you don't take the appropriate steps. And in reality over a number of generations the federal death levy could conceivably consume the vast majority of the assets that you leave behind over time. If the resources are significant enough and succeeding … [Read more...] about Greater Resources, Greater Risks
Consumer Reports Probes Legal Document Websites
Consumer Reports has always done a good job of making sure that people have relevant information to draw from when they are considering making purchases. They do exhaustive research and let everyone know their findings in their magazine and on their website. As a totally independent and objective entity the recommendations that are given by Consumer Reports are taken very seriously by people who are discerning about how they spend their money. With this in mind we would like to … [Read more...] about Consumer Reports Probes Legal Document Websites
Look Northward for Tax Savings, Asset Protection
Once you have accumulated a significant store of assets you can feel a sense of accomplishment and perhaps a little bit of relief. However, when you are standing on this plateau you have a new set of challenges that you must address. One of them is the necessity to protect these resources. If you were to become the target of a lawsuit and your assets were not positioned properly they could potentially be attached and this is certainly not acceptable. Anxious creditors could … [Read more...] about Look Northward for Tax Savings, Asset Protection
Indirect Gifting Can Be Tax-Free
If you have enjoyed a significant amount of success throughout your life you may be faced with a pleasant problem of sorts. The powers that be sit poised to consume a significant percentage of the resources that you intend to pass along to your loved ones via the imposition of the estate tax if they exceed a certain amount. To prevent people from giving gifts while they are still alive in an effort to get around the estate tax there is a gift tax in place. It is said to be unified … [Read more...] about Indirect Gifting Can Be Tax-Free
