by Susan Grissom | Apr 19, 2022 | Estate Planning, Wills & Trust
Have you wondered what the difference between a Last Will and Testament and a Trust is and if one is better than the other? We get this question frequently and the answer is that it depends on your situation and your goals. Last Will and Testament A Last Will and...
by Susan Grissom | Apr 12, 2022 | Estate Planning, Wills & Trust
A frequent question we receive is will having a trust affect my taxes? Specifically, do I need to file another, new return and do I pay more taxes? To answer this question, you must determine if your trust is revocable or irrevocable. Revocable Grantor Trusts and...
by Susan Grissom | Apr 5, 2022 | Estate Planning, Wills & Trust
The estate planning world, financial planning world, and lawmakers considered a number of significant changes to estate and gift taxes the end of 2021 and the Biden Administration set forth a series of proposals to pay for the Build Back Better Act. There was...
by Susan Grissom | Mar 15, 2022 | Elder Care, Estate Planning
The short answer to this question is, “It depends.” Alzheimer’s disease, Parkinson’s disease, chronic traumatic encephalopathy and other illnesses that cause memory loss often take their time affecting a person. In the early stages, a person...
by Susan Grissom | Mar 8, 2022 | Estate Planning
Unless you are creating a specific trust designed to hold a retirement account, it is not advisable to transfer retirement accounts to a trust. By transferring a retirement account into a trust, you will likely trigger withdrawal penalties and taxes. Even though it is...
by Susan Grissom | Mar 1, 2022 | Business, Estate Planning, Wills & Trust
You might already have an estate plan for your personal property and accounts, but what about your business? You can protect your business and strengthen your estate plan by assigning your business interests to a living trust. You can transfer your business interest...
