Category Archives: Legacy Planning

Subscribe to Legacy Planning RSS Feed

Applicable Federal Rates and Code Section 7520 Rate for September 2018 – Trending Up Again

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service (IRS) in a Revenue Ruling that is released around the 18th day of the immediately preceding month. Advance knowledge of the rates for the following month … Continue Reading

Trusts Can Provide Benefits Even for the Most Financially Savvy

In planning for the next generation, many parents struggle with the decision of whether to transfer property to their children outright or in trust.  Some feel that transferring property outright is the best option when the beneficiary is competent (i.e., mature, intelligent, financially savvy, and capable of managing money and making investment decisions).  A beneficiary … Continue Reading

When a Fiduciary is Personally Liable for Unpaid Taxes

Although many people name family and friends as trustees or personal representatives in their legacy plan, it’s probably safe to assume that the people being appointed don’t have an understanding of the high level of responsibility inherent in carrying out their fiduciary duties.  One of the greatest fiduciary responsibilities is payment of a trust’s or … Continue Reading
LexBlog