Question: My parents have considerable assets. What can they do now to reduce the potential estate taxes?
Many clients may be near or over the estate tax exemption and owe federal estate taxes upon their death (see my post on ways to avoid state taxes to see federal estate tax rates). Furthermore, individuals must also face [...]
Declining interest rates may not be good for potential buyers of bank Certificates of Deposit, but they are good news for various estate planning strategies.
I will address a few areas and techniques where low interest rates can have a very positive impact on the estate planning process:
Qualified Personal Residence Trust (QPRT) - A QPRT is [...]
The naming of a co-trustee or successor trustee is a very important decision that should not be made without careful thinking. Once the grantor either voluntarily appoints a trustee, or a trustee begins to serve as a result of incapacity, this individual will be making important financial decisions as they relate to all assets held [...]
