Archive for May 29th, 2007

Consumers all around the world all struggle with the issues of income and taxes. There are some countries where the tax rates are astronomical and people seek relief in any form possible. Due to those seeking tax relief, there have been rumors of using a living trust to avoid taxation. Many wonder is this true? Can you avoid living trust taxation by simply having a living trust and avoid paying income tax because your income is in the living trust?

The overall answer is that no you (more…)

Using this method of charitable giving, you can actually give your assets away and keep them. It’s like having your cake and eating it, too!

Most people who take the time to plan their estate already have a strong sense of family and community and want to leave gifts to their favorite charities. Many estate planning attorneys are familiar with charitable planning which is important because of the complex nature of the charitable giving provisions of the Internal Revenue Code.

A (more…)

There are typically two types of beneficiaries for an Independent Retirement Account (IRA). A beneficiary can be either a spouse or non-spouse, and each group has different options and benefits to receiving money from an inherited IRA.

INHERIT INDEPENDENT RETIREMENT ACCOUNT FROM SPOUSE

If you inherit an IRA from a spouse, you have the option of taking the IRA as your own and also making further contributions to the account. If you choose to take the IRA as your own, you may choose (more…)