Estate Planning
Spousal Lifetime Access Trusts: A Sophisticated Tool for Wealth Protection and Estate Planning
Spousal Lifetime Access Trusts: A Sophisticated Tool for Wealth Protection and Estate Planning
October 6, 2024
Spousal Lifetime Access Trusts: A Sophisticated Tool for Wealth Protection and Estate Planning
The 2024 election is just around the corner, and with it comes a range of policy proposals that could significantly impact the markets. At Legacy Private Trust Company, we’re closely monitoring these developments to help you stay informed. Below, we
For families managing significant wealth, safeguarding assets for future generations while minimizing tax liabilities is paramount. A powerful tool to achieve this is the Generation-Skipping Trust (GST), which allows families to pass wealth to grandchildren or younger beneficiaries, bypassing intermediate
For families focused on protecting their financial legacy and passing down wealth with careful planning, irrevocable trusts offer a powerful solution. These specialized trust structures help reduce estate taxes while ensuring long-term stability and control, making them essential to effective
Crafting a thoughtful estate plan involves more than simply deciding how your assets will be distributed. A well-considered plan can help ensure your wishes are honored, reduce potential tax burdens, and even allow you to support the charitable causes you
Every firm should prepare for the unexpected, including the sudden loss of a partner or key person. The unforeseen death or disability of a crucial team member can significantly disrupt your operations. Beyond losing a valued individual, your firm also
Every industry presents unique occupational risks. For instance, food service roles may involve hazards like slippery floors, hot cooking equipment, and sharp objects. Janitorial work might require handling hazardous chemicals, and even retail positions can pose risks related to heavy
The Internal Revenue Service (IRS) has reminded taxpayers of the need to address the digital asset question on their federal income tax returns. Taxpayers must respond to this question by checking “yes” or “no.” IRS Digital Asset Question Overview The
On September 18, 2024, the Federal Reserve announced a larger-than-expected 50-basis point (0.50%) reduction in the federal funds rate, bringing it down to a target range of 4.75% to 5%. This marked the Fed’s first rate cut since March 2020,
The COVID-19 pandemic prompted a major transformation in workplace dynamics, pushing many organizations to embrace remote work to maintain business operations quickly. While some companies had already integrated remote work into their models, many others found themselves navigating this new
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