Charitable Remainder Trusts

A CRT lets you convert a highly appreciated asset (stock, real estate, etc.) into lifetime income. It reduces your income taxes now and estate taxes when you die, and you pay no capital gains tax when the asset is sold. Plus, it lets you help a charity(ies) that has special meaning to you.

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Understanding the Duties and Responsibilities of a Successor Trustee

If you have been named as the successor trustee in someone's living trust, you may be wondering what you are supposed to do. You can relax a bit, because you don't do anything right now. You will only begin to act when the person becomes unable to manage his or her financial affairs due to incapacity, or when he or she dies.

However, it is important that you know ahead of time what your duties and responsibilities will be. These FAQs will help. Let's start with some explanations.

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