Revocable Trusts: The Swiss Army Knife Of Financial Planning
By: Frank Armstrong - April 03, 2019
Trusts are one of the most versatile items of the financial planning toolkit. But, they are not just for rich people. With the new higher estate tax exemptions avoiding or reducing estate tax is not a concern for most of us. But, there is so much more trusts can do to solve critical problems for most families.
Health savings accounts (HSAs) are perhaps the best retirement planning tool available. Most people aren’t aware that if you’re looking for cash to fully fund the year’s HSA contribution, a transfer from an IRA might do the job.
Recently, at law firm Bilzin Sumberg’s 2018 International Tax and Wealth Planning Conference, we — Richard Goldstein, the firm’s tax and estate planning group chair, along with founder and CEO of Art Market Liaison, Laura Raiffe — discussed the importance and prevalence of a valuable art collection in a client’s estate plans.