Sorry, California: INGs Are No Longer an Option—How Will This Impact You?
California Governor Gavin Newson recently signed legislation that treats incomplete gift nongrantor trusts (INGs) as grantor trusts for state income tax purposes. Retroactive to January 1, 2023, Californians who created […]
Should You Share Your Estate Planning Details with Loved Ones?
When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information […]
How Much Authority Does a Trustee Have Over the Stuff in My Trust?
A trustee is a person or entity responsible for managing and administering your trust according to your instructions and in accordance with state law. They are considered a fiduciary (meaning […]
Generational Wealth through Adoption and Dynasty Trusts
Since a dynasty trust is mainly used to create a lasting financial legacy for multiple generations, it can be structured to provide for your descendants. This is a common strategy […]
Successful Dynasty Trusts in History: The Rockefeller Family
Dynasty trusts have played a crucial role in preserving wealth and fostering a lasting financial legacy for many affluent families throughout history. One excellent example is the Rockefeller family, whose […]
What Is a Dynasty Trust and Why Should You Consider One?
If you have significant wealth, one of the best ways to protect your family and transfer your wealth is through a dynasty trust. However, setting one up requires considerable financial […]
If You Own Any of These Assets, You Need to Watch Their Value
As we begin 2024, it is crucial to review estate planning goals and strategies that may be affected by changes in the federal estate tax exemption law. At the end […]
Case Study: How Concerned Should You Be about Estate Tax Issues?
If you have significant wealth, you may be exposed to future estate tax burdens that must be acted on before the Tax Cuts and Jobs Act reduces the estate tax exemption […]
The Countdown Begins: Will We Keep the $13.6 Million Estate Tax Exemption?
The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate […]
Cultivate and Build New Relationships Through Networking
In addition to being considered the month of love, February is International Networking Month. In today’s world, developing new relationships with people is truly important. Our social and professional interactions […]