Trusts & Estates Archives | SAX - Advisory, Audit and Accounting https://saxadvisorygroup.com/category/trusts-estates/ Advisory, Audit and Accounting Thu, 29 Aug 2024 14:14:45 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://saxadvisorygroup.com/wp-content/uploads/2025/01/cropped-SAX-Logo_favicon-32x32.jpg Trusts & Estates Archives | SAX - Advisory, Audit and Accounting https://saxadvisorygroup.com/category/trusts-estates/ 32 32 Strategize Your Year-End Trust & Estate Planning https://saxadvisorygroup.com/strategize-your-year-end-trust-estate-planning/ Mon, 26 Aug 2024 19:19:08 +0000 https://www.saxadvisorygroup.com/?p=14827 As we are more than halfway through 2024, now is the time to start thinking about planning for the remainder of the year as well as potential planning opportunities for next year. You may or may not already be aware that the Tax Cuts and Jobs Act (TCJA) went into effect on January 1, 2018 […]

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]]> How should I plan charitable gifts as we approach year-end? Through my estate plan? https://saxadvisorygroup.com/how-should-i-plan-charitable-gifts-as-we-approach-year-end-through-my-estate-plan/ Mon, 27 Nov 2023 14:59:48 +0000 https://www.saxadvisorygroup.com/?p=13570 My client is charitably inclined.  How should I be advising her as we approach the year-end?  My client wants to make a charitable bequest through his estate plan – what is the best way to accomplish this? This program will provide a practical overview of a range of charitable planning concepts including Annual Cash donations, […]

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]]> Why should I engage in planning now? Nothing is going to change, and the exemption is so high! https://saxadvisorygroup.com/why-should-i-engage-in-planning-now-nothing-is-going-to-change-and-the-exemption-is-so-high/ Fri, 08 Sep 2023 14:06:57 +0000 https://www.saxadvisorygroup.com/?p=13115 Practitioners are quite aware that in 2026 the Federal estate and gift, estate and GST tax exemptions will be reduced by half. Clients might also be aware but have likely not focused on the issue. Many who should address estate tax planning now may put it off, and ask: “Why should I engage in planning […]

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]]> How Can My Trust Help My Kid Buy a House? https://saxadvisorygroup.com/how-can-my-trust-help-my-kid-buy-a-house/ Mon, 07 Aug 2023 13:01:59 +0000 https://www.saxadvisorygroup.com/?p=13018 It is fairly common for a client to ask how an irrevocable trust might help a beneficiary to buy a house.  There are many different options for how to handle this common transaction.  The path of least resistance – to have the trust just make a distribution to the child so that the child could […]

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]]> I’m buying life insurance, do I really need a trust, and if so what kind? https://saxadvisorygroup.com/im-buying-life-insurance-do-i-really-need-a-trust-and-if-so-what-kind/ Wed, 12 Jul 2023 12:39:18 +0000 https://www.saxadvisorygroup.com/?p=12921 A client is buying life insurance, do they really need to set up an irrevocable life insurance trust (“ILIT”) to own that insurance? With high estate tax exemptions is that really relevant? This webinar will explain the pros and cons of having a trust own life insurance and why trust ownership of life insurance is […]

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]]> MY IRREVOCABLE TRUST HAS BEEN PAYING STATE INCOME TAX FOREVER. IS THERE ANY WAY TO AVOID STATE INCOME TAX? https://saxadvisorygroup.com/my-irrevocable-trust-has-been-paying-state-income-tax-forever-is-there-any-way-to-avoid-state-income-tax/ Mon, 13 Mar 2023 14:50:31 +0000 https://www.saxadvisorygroup.com/?p=12519 State income taxes can be onerous. Rates can reach 14%+ and the effects of a high state income tax on trust income over years, or decades for long term trusts, can exact a significant toll on the growth of trust assets.  Here are some resources that can help: Upcoming Webinar: Join us on Thursday, March […]

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]]> I HAVE A GRANTOR TRUST AND AM TIRED OF PAYING THE INCOME TAX ON TRUST INCOME. WHAT CAN I DO? https://saxadvisorygroup.com/i-have-a-grantor-trust-and-am-tired-of-paying-the-income-tax-on-trust-income-what-can-i-do/ Fri, 17 Feb 2023 18:47:14 +0000 https://www.saxadvisorygroup.com/?p=12467 In case you missed it, watch part one of our Estate Planning webinar series that will tackle the issue of grantor trusts and the burdensome income tax. Listen in as Martin Shenkman and Joy Matak – leading professionals in the arena of trusts, estates, and tax planning – discuss several strategies to handle the taxable […]

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]]> New Budget Reconciliation Package: Plan NOW for the Estate Tax Overhaul https://saxadvisorygroup.com/new-budget-reconciliation-package-plan-now-for-the-estate-tax-overhaul/ Wed, 15 Sep 2021 18:02:19 +0000 https://www.saxadvisorygroup.com/?p=10302 Throughout 2021, SAX has been warning of dramatic and substantial structural changes that will severely impact estate planning opportunities. The recently proposed budget reconciliation package based upon the President’s Build Back Better Act would bring sweeping changes to estate taxation that would immediately become the costliest in generations if enacted, and are so expansive in […]

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