Planning

Exploring the Advantages of Trust Situs in the Rushmore State

During the formation of a trust, it is very important to consider the situs (or location) in which the trust will be governed. Factors such as tax regulation, asset protection, and privacy levels can all vary depending on a trust’s situs. Therefore, choosing the right situs can significantly impact the effectiveness and efficiency of a trust. Although it may seem like an interesting choice to many …

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Do you need a Corporate Trustee? Here’s 5 questions to ask.

As you approach the end of your estate planning, one crucial aspect often overlooked is selecting a reliable Trustee who will manage your affairs after you’re gone. This decision is pivotal, especially if you lack a suitable family member willing or capable of taking on this responsibility. In such cases, turning to a corporate Trustee …

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NIMCRUTs – Taking Care of Yourself, Your Family, and the World

Many high-net-worth individuals have multiple goals: taking care of themselves and their family, reducing taxes, and making a positive impact on the world. Any two of these goals can be achieved somewhat easily, but it takes creative planning to achieve all three at the same time. The U.S. tax code allows the charitably inclined to …

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Navigating Life Changes – When to Update Your Estate Plan

What’s changed in your life recently? Everyone I talk to lately seems to be navigating some type of life change. Some of the changes are positive, like marriage, new career opportunities, moving into dream homes, or the birth of a child. Others are dealing with heavier transitions, like financial hardships, health issues, or loss of …

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