January 09, 2017

Private Charitable Foundation

January 09, 2017/ Jennie Gerlock

Instead of giving all that tax money to Uncle Sam after you die and letting Congress decide how to spend it, you can set up your own charitable foundation, donate your assets to it and keep some control over how the money is spent! (The IRS does have a few restrictions on how the money is used.)

January 07, 2017

Grantor Retained Annuity Trust (GRAT) and Retained Unitrust (GRUT)

January 07, 2017/ Jennie Gerlock

GRATs and GRUTs have much in common with the qualified personal residence trust. The main difference is that a GRAT or GRUT lets you transfer any asset (not just your home) out of your taxable estate. And, with a GRAT or GRUT, you receive an income, instead of continuing to live in your home, for a set number of years.

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