The ABC’s of Being a Trustee
INTRODUCTION Many people who create a trust put little thought into selecting a trustee. Most simply choose a friend or a relative they trust. However, many times that trusted friend or relative does not have the knowledge to properly administer the trust or does not understand what it actu …
Put Not Your Trust in Money But Rather Put Your Money in Trust
CONSIDERING A CORPORATE TRUSTEE The practice of putting property in trust dates back to medieval England when large landowners sought to secure their estates in a world fraught with danger. They transferred ownership to a trust and often chose a reliable friend, relative, or a representativ …
Estate Executor: No Job for Amateurs
INTRODUCTION Being the executor of an estate is an honor; however, it is also a challenging, time-consuming role that carries legal liability. An executor will likely work long hours for at least a year or two to settle the estate and ensure everything is handled properly. While fulfilling …
Are Trusts Only for Unreliable Children? The Non-Tax Benefits of Trusts for Both Unreliable and Responsible Children
There is a myth that trusts are only useful for saving taxes, protecting minors, and protecting spend-thrifts. On the contrary, leaving property in trust rather than outright can provide significant non-tax benefits for the trust beneficiaries. During my 20 years of work in the estate-plann …
How to Make Charitable Giving Part of Your Financial Plan
COVID-19 caused an economic shockwave that we’ll feel for a long time. Nonprofits, from large global networks to the local churches, have been hit hard, too. In a recent survey of 110 nonprofits, 80% of them said revenue had fallen across the board.
How a Donor-Advised Fund Can Help Your Charitable Giving
Giving is an important part of our society for many. It can provide us the opportunity to support causes we believe in and make a positive impact. Keep in mind, giving isn’t always about donating money. It can also include volunteering time or donating goods and resources. Here are some exa …
Choosing the Right Trustee for Your Estate Plan
One of the most important decisions you’ll make when designing your estate plan is who to name in the various fiduciary roles: trustee, personal representative, executor and agent. While a critical decision, it’s often given significantly less thought than the distribution of your assets. B …
Revocable Living Trusts as part of an Estate Plan
Our latest webinar, Revocable Living Trusts as part of an Estate Plan with Carson Group’s Director, Trust Services Scott Berryman and Manager & Sr. Wealth Planner Tom Fridrich is now available for viewing on-demand.
Estate Planning
Often, people believe that estate planning only benefits the very wealthy, but nothing could be further from the truth. It’s something everyone needs to engage in regardless of age, estate size or marital status. If you have a bank account, investments, a car, home or other property—you hav …
Multigenerational Family Wealth
Creating multigenerational wealth that lasts involves more than passing down assets. It requires teaching younger generations how to maintain that wealth. Learn how you can build and pass on your legacy in this helpful guide. Download Guide
COMPLIMENTARY RESOURCE
A Guide to Gifting to Your Heirs
Gifting to your loved ones now or posthumously each carries their own positives and negatives as they relate to your estate plan, taxes, your goals and your legacy.