Category: Lifetime Gifting to Children/Descendants

Categories
39 Wealth Management Issues Lifetime Gifting to Children/Descendants Trusts

What is a QPRT?

Qualified Personal Residence Trust Properly drafted, the Qualified Personal Residence Trust (“QPRT”) is designed to transfer a personal residence or vacation home to your beneficiaries in the future using today’s valuation. The trust works like this: the residence is valued and transferred to the trust after the trust is drafted and signed. The donor retains […]

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Categories
39 Wealth Management Issues Aging Issues Asset Allocation Issues Asset Protection Business Continuation Planning Business Succession Planning Charitable Giving During Lifetime Charitable Giving Through Estate College Expense Planning Debt Financing Debt Management Defined Benefit Plan Strategy Disability Protection Durable Power of Attorney Issues Executor/Trustee Issues Family Financial Values Financial Continuity with the Loss of Family Member Future Taxable Event Triggers High Correlation of Asset Allocation Household Budgeting Illiquid Investments Impending Major Purchase Income Tax Planning Investment Over-concentration Investment Risk Management Life Insurance Planning Lifetime Gifting to Children/Descendants Medical Coverage/LT Care Planning Non-U.S. Citizen planning Nonqualified Employee Benefits Pre and Post-Marital Agreements Real Estate Retirement Income Self-Actualization Social Security Decisions Special Needs Planning for Loved Ones Titling of Assets Wealth Transfer Through Estate

2021 Federal Tax Guidelines

Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent “bracket creep,” when people are pushed into higher income tax brackets or have reduced value from credits and deductions due to inflation, instead of any real income increase. The IRS used the Consumer Price Index (CPI) to measure inflation before […]

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