Who Should I Name as Trustee?
January 8, 2020
Having a trust is just one important piece of the puzzle, when planning for your financial legacy. Another piece: your trustee.
- 1067 N. Mason Road, Suite 3, St. Louis, MO 63141
Having a trust is just one important piece of the puzzle, when planning for your financial legacy. Another piece: your trustee.
I’m in my 80s and have a substantial sum in retirement accounts that I plan to leave to my children. Will they have to pay estate taxes on it?
Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.
A charitable remainder trust can be used to help accomplish numerous financial planning objectives. However, complex legal requirements must be met to secure many of the benefits a CRT offers.
Going straight from a busy work life to ‘retired’ can be difficult, if you haven’t mapped out your path. Preparing yourself effectively involves both financial and lifestyle choices.
If someone has lost capacity to execute legal documents and has no power of attorney in place or has a power of attorney that is no longer usable (for example, if the named agents are deceased), a guardianship proceeding may be the only recourse.
Retirees preparing to file their taxes for this year should be aware of a number of common pitfalls, often-overlooked deductions and changes that stem from the tax overhaul two years ago.
More than likely, most people may not want to envision a time spent in court, arguing with siblings and other family members, or fighting with financial institutions and health providers to uphold end-of-life wishes and the management of personal assets.
Medicare and the health care providers must give you the information you need, like treatment options, to make informed health care decisions and explain your Medicare rights in a way you can understand.
The personal representative (formerly executor) of the deceased’s estate may be responsible for filing a number of tax returns.
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