Estates & Trusts

Impending Change in Federal Estate Tax Could Have Massive Impact

By: Rob Jacobson, CPA

Handle Your Non-profit’s Restricted Gifts With Care

Most not-for-profits encourage donors to make unrestricted contributions that will give the organization flexibility to use the money where it’s needed most. But there will always be some donors who place restrictions on their gifts — and these require a higher level of responsibility.

Assets in Minor’s Name – Tax Strategy Alternative

Many of us use the Uniform Gifts to Minors Act (UGMA) to hold money or other property for a minor child that otherwise would not be able to be held in their name.

Irrevocable Life Insurance Trust (ILIT) – Tax Benefits

An Irrevocable Life Insurance Trust (ILIT) is a trust that cannot be rescinded, amended or modified post creation. (Of course if you stop paying the insurance premiums, the trust will self-destruct). These trusts are designed to own a life insurance policy.