Estate Planning as a Career

First, lets discuss a will, which everyone has heard of and think they need. This is a common misconception promoted mainly by attorneys who specialize in wills. With a will, you must still go through the states process of probate. To have an attorney draw up a will costs between $100-$500. In order for a will to be effective, it must be drawn up every single year. When you lose your loved one, and are ready to execute the will, it goes into probate, which once again requires a (more…)

When we think of Charitable Trusts, we think of very wealthy people. It is traditional that charitable trust have been set up by the rich (or their lawyers) to endow favourite charities and to help them reduce the taxes they must pay.

There are large tax incentives when you set up a charitable trust. You will receive an income tax deduction, or reduce your estate taxes. You can even eliminate capital gains tax. And you can do all of this while receiving a return on yo (more…)