ILITs are customized trusts that can hold multiple life insurance policies.
Since the recent federal case Clark v. Rameker that ruled inherited Individual Retirement Accounts (IRAs) are not protected in bankruptcy, individuals may be exploring alternative asset preservation options that can help protect retirement accounts from creditor claims.
A recent court case is a reminder of the powers and limitations of postnuptial agreements. Although postnuptial agreements are helpful asset preservation tools for married couples, some states do not recognize these documents.
Now that half the year has passed, individuals and organizations may be revising their charitable giving options for the remainder of 2014. If last year's donation growth repeats itself, donations may become more generous this year.
In a joint decision, the IRS and US Treasury Department have amended RMDs rules for retirement accounts that include annuities.
Tennessee now offers a tax exemption for the manufacturing of firearms that classify as 'smart guns.'
Recently proposed legislation changes prompted the coining of the â€˜estate planning loophole' term. What exactly does it mean?
Do you need to pay income tax on a trust? Every state has different laws regarding whether a trust is taxable in that state. The following post reviews current laws regarding trust taxation in North Carolina and other states our firm serves, although careful review of each state's tax laws is recommended to determine whether trust income is taxable in a particular state.