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Every trust document is different; the terms of a trust can vary greatly, giving the beneficiaries either a broad range of power or can limit a beneficiary’s power to only include specific rights. Some of the differing terms of trust include: how the income and principal investments are able to…
Why Were Interest Rates Raised? The Federal Reserve has made the decision to increase interest rates by 0.25% at the end of 2016, with more dramatic increases to follow in 2017, news of which was released in December 2016. The decision was made for the interest rate increase of a…
Maintaining your Social Security number is something we have all been told to keep close, and to be wary of releasing to companies unless absolutely needed. Your Social Security number are a series of numbers that help identify individuals in the United States as either citizens, permanent residents, or temporary…
Healthcare coverage has been an unsure and confusing issue for both young and elderly citizens over the past decade, with the potential to only become more complicated as a new president takes office. While laws have been amended throughout President Obama’s term to now allow young adults to remain covered…
Probate and Contested Estates When an individual dies, their transfer of property through the legal system is known as probate. During this process, the court determines the validity of a legally formed will or a how property will be distributed if it has not been designated to be inherited by…
Sumner Redstone, the 93 year old media mogul who has infamously alienated both family and friends over the past few years while determining the terms of administration for his estate, added another dramatic chapter last month when he made claims of elder abuse against two of his former girlfriends. The…
Properly planning and structuring of charitable contributions and gifts can be a huge part of the overall estate plan. There are good and bad ways to give. Ensure that your gift is properly funded and distributed per your wishes by planning ahead of time. This planning may include using charitable…
Prince & Tidal After the death of a musician, we commonly hear about battles between the estate of deceased artists and various music companies, regarding the royalties to a deceased artist’s work, who now owns it, and who is entitled to receive royalties now that the artist is no longer…
Giving to charity is an important aspect of many estates. Those wishing to give gifts in a tax efficient manner should consider the positives and negatives of certain types of gifts. Many people who are wishing to help reduce estate taxes should consider spreading gifts throughout their lifetime. Lifetime Gifting…
Blind Trusts Blind trusts are another type of trust that is established in order to set assets aside and preserve them for a specific period of time, however the person establishing the trust has no control over the funds and thus does not receive access to them. Additionally, the individual…