What's The Story On Gift Taxes? - In brief, the IRS is not imposing a tax on the sweater you gave to Uncle Arnold for Christmas or those Amazon gift cards you gave your nieces. The IRS only starts taxing gifts when they surpass a certain dollar limit each year and during your lifetime. And gift …
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Retirement: Cutting The Cord Sooner
Retirement: Cutting The Cord Sooner - Many people retire sooner or later than the typical age of 65. An entire movement known as FIRE (for Financial Independence Retire Early) grew up around a 1992 bestseller, which advocated a savings and investment discipline designed to enable adherents to retire …
Trusts: Types, Purposes, and Benefits
Trusts: Types, Purposes, and Benefits - A trust allows you to be specific about how, when and to whom your assets are distributed. Trusts can be arranged for a variety of different goals: to reduce estate taxes, to transfer property and to preserve assets for minors or a charity. Trusts offer …
Richest Animals and Pet Heirs
How the world’s richest pets spend their inheritance As monetary settlements called “pet trusts” grow in popularity, animal companions of the wealthy can continue living large even after their owners are long gone. “People develop a really strong bond with the animals they share their …
Celebrity Estate Planning: Misfires of the Rich and Famous
Celebrity Estate Planning: Misfires of the Rich and Famous - Like many ordinary individuals, celebrities often have outdated or nonexistent estate plans. Even when a celebrity has done careful estate planning and has well-drafted documents, changes in family circumstances or in the tax laws can …
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