by Peggy Lennon This year, the One Big Beautiful Bill (OBBB) directly increased the lifetime exclusion, which is the base amount that one can give free of federal gift and generation-skipping transfer (GST) tax, either at lifetime or at death. The OBBB did not increase other dollar amounts in the estate, gift and GST tax...
When helping clients decide on a charitable planning vehicle, their level of philanthropic interest is key to determining the best option. For those with a strong desire to give back, charitable remainder trusts (CRTs) and charitable lead trusts (CLTs) are two attractive choices. Charitable Remainder Trust (CRT) A charitable remainder trust allows a donor to...
A durable power of attorney is a legal tool that allows you to appoint someone (known as your agent or attorney-in-fact) to act on your behalf and make decisions about your financial affairs and property in the event that you become incapacitated. What powers does it grant? The powers you grant to your agent through...
Thinking about a time when you may not be able to make your own medical decisions is uncomfortable for many people. Yet, it’s a reality that can happen due to illness, injury or the natural aging process. Without a clear plan in place, your loved ones may be left scrambling to make medical decisions on...
Losing a loved one is one of the most challenging experiences a person can go through. Adding the task of administering their trust on top of that can feel overwhelming, especially if you’ve never handled this type of responsibility before; however, it’s important to know that while there is no need to take immediate legal...
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