Tuesday, July 27th, 2010 at
12:29 pm
Unlike an IRA, a 401k will automatically transfer to a surviving spouse no matter who the designated beneficiary is.
Monday, July 19th, 2010 at
8:42 am
The Charitable Remainder Trust (CRT) allows you to gift your property to charity, protect it from your creditors, save taxes, receive lifetime income, and still leave your heirs whatever amount you gifted to charity. As the trust grantor, you select a tax-exempt charitable organization as the beneficiary of the CRT. By funding the trust, you are making a charitable donation and are earning a tax deduction. As the lifetime income beneficiary, the trust will pay you an annual income. It’s the best of both worlds and a simple vehicle for protecting your assets.