A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person (grantor) creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period. After this time ends, the CLAT’s remaining [...]

People create wills to establish what happens to their money and assets when they pass away. In these estate planning documents, they can name beneficiaries – individuals who will receive money, other assets, or specific bequests like sentimental items upon [...]

A power of attorney is among one of the most important incapacity planning documents you can have. It designates someone you trust with taking care of your affairs if you become unable to do so. In a power of attorney, you [...]

An executor is a person or entity you choose to carry out your last wishes outlined in your will. Your executor should be someone you trust is responsible enough to manage your estate after you pass away. Choosing an executor [...]

Totten trusts, or payable-on-death (POD) bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death. When you make a Totten trust, you put funds into a revocable trust and designate a [...]

Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. Legislation known as the SECURE 2.0 Act, passed in late 2022, has changed prior rules related to RMDs. Effective January 1, 2023, RMDs begin when [...]