Let’s Do the Math: How Does the Generation-Skipping Transfer Tax Work?

You may have considered creating a trust to transfer wealth to your grandchildren and great- grandchildren. But you may not have considered how the generation-skipping transfer (GST) tax could affect this inheritance. To better explain how the tax would impact a gift in trust, we are going to do some math.Generation-Skipping Transfer Tax Rate The federal [...]

2024-04-08T23:10:31+00:00Estate Planning, Trusts|

Leaving Money Directly to Your Grandchildren

Read on if you plan to skip a generation (your children) and make your grandchildren the beneficiaries of your estate plan.Many people are familiar with the existence and some aspects of estate and gift taxes. If you are part of a high-net-worth family, it is important to also understand the generation- skipping transfer (GST) tax [...]

2024-04-09T15:20:26+00:00Estate Planning, Trusts|

What Is a Dynasty Trust? Should You Consider One?

If you have significant wealth, one of the best ways to protect your family and transfer your wealth is through a dynasty trust. However, setting one up requires considerable financial and estate planning knowledge. Who Could Benefit from a Dynasty Trust? If you have worked hard to grow your money, property, or business and [...]


Who Will Care for Your Pet?

If you have a severe illness or accident or pass away, who will you trust to look after your pet? There are many ways to ensure your pet continues to have a loving home. Guardian of Your Minor Children In Virginia, if you have minor children, you can designate a standby guardian to take [...]

2023-12-15T13:28:37+00:00Estate Planning, Pets|

The Real Story Behind Trust Fund Kids

When we hear the phrase “trust fund kid,” words like “entitled,” “privileged,” and “financially irresponsible” might come to mind. But another word we should associate with “trust fund kid” is “protected.” What Is a Trust Fund Kid? According to a Forbes article published in 2021 about trust fund kids, three of the most common misconceptions [...]

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