“In his inimitable, humorous fashion, Chris Hoyt, professor of law at the University of Missouri-Kansas City School of Law, shared some helpful strategies for making charitable gifts that save income as well as estate taxes at the 53rd Heckerling Institute conference. First, Professor Hoyt explained how donors can get tax savings from charitable gifts when…

“Everyone needs a will, but, increasingly, estate planners say people also could benefit from setting up a trust while they are alive. That step would help assure that their assets are distributed more quickly, their bills paid promptly and continuously and personal information about property and other assets be kept out of the public eye.”…

“New year, new you … or, at least, that’s the plan. Maybe your New Year’s resolution is to watch less TV, learn a new language or exercise more, and for the next few weeks, you’re diligent about sticking to your goals. But as the year goes on, work, social engagements, family obligations and other responsibilities…

“Now as Boomers enter their 60s and 70s, they are more focused than ever before on managing their family legacies. The 2018 U.S. Trust Insights on Wealth and Worth Study found that 67% of individuals over age 50 want to use their wealth to invest in their children and grandchildren. Further, many are doing more for their children than their own…

“Every individual owns an estate, no matter how large or obscure it might be. What most young people fail to understand is that preparing an estate plan early on helps to lay a secure foundation for their family’s future. Why? Because you’re providing for them and ensuring your legacy will live on when you’re no longer around….

“If only millennials had more money, they would be at the top of every investment adviser’s list of target markets. Today, millennials (born from 1982 to 2000 and numbering 83 million in the U.S.) comprise one-quarter of the U.S. population and now outnumber baby boomers (born from 1946 to 1964).  The problem is that millennials control…

“A major part of Michigan’s new regulations on medical marijuana involve lab testing for safety compliance. In the past, marijuana testing hasn’t been required by the state. Now, it’s a new aspect of the medical marijuana industry in Michigan and, no — testing does not involve anything like puff, puff, pass. Labs for testing marijuana…

“While it may be a task that’s low on your to-do list, estate planning can provide guidance for your loved ones in the future. It will also give you a sense of relief as you think about passing on your household and assets. “Most people would benefit from having basic estate planning documents in order to make…

“Imagine you have a young child and something happens to you and your spouse. With a traditional estate plan, you might have a will that includes language about guardianship. In the event you and your spouse pass away or are incapacitated, it is in this section of the will the court will turn to that…

“Estate planning is the process of anticipating and arranging, for the management and disposal of a person’s estate, during the person’s life and at and after death. Estate planning is a broader term for planning and process while the tools for doing estate planning are (i) will writing and (ii) creation of trusts. Let us…

©2016 Marsalese

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