The Tuesday after Thanksgiving has become known as Giving Tuesday, when people are encouraged to donate to charitable organizations. If you’d like to take part in this special day, you’ll want to maximize the effectiveness and benefits of your charitable gifts. So, consider these questions: Is the charity reputable? Does it use its resources wisely? Most charitable organizations are honest and dedicated to helping their specific causes. But sometimes there are a few “bad apples” in the … [Read more...] about Maximize Your Charitable Gifting
How Estate Planning Documents Help Prevent Elder Abuse
Blog Author: Tereina Stidd, J.D., LL.M. (Tax), Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. With age comes wisdom and often, vulnerability. While aging is inevitable, it’s often hard to face as previously routine tasks become more difficult or require the assistance of another. Suddenly, keeping up with the latest technology overwhelms an individual who abandons the project in frustration. Minds become addled and scam artists more creative making … [Read more...] about How Estate Planning Documents Help Prevent Elder Abuse
Adopt-a-Family Gift Drive
We Invite You to Join Us in Helping Two Families this Holiday Season We understand that there are lingering and lasting impacts brought on by COVID and other socioeconomic forces out of our control. Fortunately, we all find ourselves in a position to be able to give back to our community. To that end, this year, Litherland, Kennedy & Associates will be participating in the Adopt-a-Family Holiday Gift Drive supported by the Bill Wilson Center. We have chosen two families to sponsor this … [Read more...] about Adopt-a-Family Gift Drive
Roth IRAs Can Be a Great Planning Strategy: Advanced
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the second in a two-part series on Roth IRAs. The first part reviewed the basics of Roth IRAs. (Click here for the first article in the series.) This second part looks at two advanced planning strategies. The first advanced planning strategy is to use a Roth IRA to maximize the deferral on an inherited IRA. Prior to the SECURE Act, beneficiaries could … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Advanced
Roth IRAs Can Be a Great Planning Strategy: Basics
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the first in a two-part series on Roth IRAs. This first part will look at the basics of Roth IRAs. The second part will look at more advanced planning strategies. An Individual Retirement Account (IRA) is a savings vehicle in which a deduction may be taken upon contribution (with limitations). The maximum contribution in 2021 is $6,000, and those age 50 and … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Basics
Estate Planning Reduces Stress During High Anxiety Times
Blog Author: Tereina Stidd, J.D., LL.M. (Tax), Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. Everyone who lived through September 11, 2001, shares a common experience. Although colored by our individual circumstances, we remember looking at the horrific images of destruction and misery and wondering why this tragedy occurred. Since that fateful day, Americans have flocked to churches, synagogues, mosques, and other places of worship seeking answers to … [Read more...] about Estate Planning Reduces Stress During High Anxiety Times
Assisted Living: What is It, and is It Right for You?
by Dedra Jize, OT., CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law September 12th through 18th marked National Assisted Living Week. Does Hallmark make a card for that? I doubt it but it does give us a moment to pause and think about it. First, what is Assisted Living? It’s a home or community that provides 24-hour supervision and additional daily support with things like dressing, showering, toileting and medication management along with all that … [Read more...] about Assisted Living: What is It, and is It Right for You?
Taxation of Nongrantor Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the final article in a three-part series on the taxation of trusts. The first part reviewed how a trust can be “substantially owned” by someone, i.e., what is commonly known among Estate Planning or Trusts & Estates attorneys as a “grantor trust.” It also looked at the advantages of using a grantor trust. Here is a link to the first article in the series. … [Read more...] about Taxation of Nongrantor Trusts
Is Your Married Joint Living Trust Too Complicated? (VIDEO)
In this vlog, Litherland, Kennedy & Associates Attorney Maggie A. LaBranch-Gonzales discusses the structure of married joint living trusts and why you should review your plan, especially if it was created prior to 2017. … [Read more...] about Is Your Married Joint Living Trust Too Complicated? (VIDEO)
Tax Reporting with Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the second in a three-part series on the taxation of trusts. The first part reviewed how a trust can be “substantially owned” by someone, i.e., what is commonly known among Estate Planning or Trusts & Estates attorneys as a “grantor trust.” It also looked at the advantages of using a grantor trust. Here is a link to the first article in the series. This … [Read more...] about Tax Reporting with Trusts
