Affluent families have long worried about preserving wealth and ensuring its smooth transfer through generations. In estate planning, the generation-skipping transfer tax (GST) plays a significant role. The US government established the GST to prevent individuals from avoiding estate taxes…
A person's estate planning strategy should aim to minimize their beneficiaries' taxes while protecting their assets. The qualified personal residence trust (QPRT) is a valuable tool in this area. This specialized trust enables individuals to transfer their primary residence or…
Financial difficulties are clouding the golden years for many older Americans. One article addressed some of the seniors’ biggest financial challenges and what they can do to fight back. What follows is a summary of the article. Historically Low-Interest Rates…
A rising number of retirees and aging Americans are using bankruptcy as an option to get out of debt. While medical advances are keeping seniors alive longer, the associated healthcare costs in the quest for longevity are being off-loaded onto…