2021 year end planning

2021 Year End Planning

As the this extraordinary year winds down, we all start thinking about 2021 year end planning. In the tax and estate planning world, that might mean quite a lot of potential concerns. Many news sources have inundated you with information about possible changes in estate tax law, income taxation and other new developments. Some commentators…

Financial POA form

Financial POA Form

Say you need to get authority over your father’s finances because you don’t think he can manage them himself any longer. You know you need a power of attorney (POA). Can’t you just go online, download a financial POA form, and get your dad to sign that? Last week we talked about Arizona’s online health…

Questions About Self-Settled SNTs

Listener’s Questions About Self-Settled SNTs

A month ago, a podcast listener asked us a series of detailed questions about self-settled SNTs (special needs trusts). We tackle the questions in this episode. Actually, the listener’s questions didn’t specify whether their questions were about self-settled special needs trusts or third-party trusts. And the answers differ quite a bit depending on which trust…

Purchasing cars with Ashley

Staff Profile: Purchasing Cars with Ashley

Purchasing Cars with Ashley? Wait: does Fleming & Curti, PLC, have a personal shopper for auto acquisition? Not exactly. But because of our unusual service mix, one of the things we often deal with is setting up transportation for trust beneficiaries and others. That frequently means we use trust (or conservatorship) funds to buy or…

More questions about SNTs

Listener’s Questions About SNTs – Part 2

In our previous podcast episode we answered listener’s questions about SNTs — special needs trusts. This week we finish up with more questions about SNTs. As we explained in that previous podcast, special needs trusts can be “self-settled” or “third-party.” The difference: follow the money. If the funding came from outside sources, the SNT is…

Questions About SNTs - Part 1

Listener’s Questions About SNTs – Part 1

A listener sent us several questions about SNTs (that is, special needs trusts). We thought the questions were good, and if we talked about them it would give us a chance to explain a number of things about trusts for people with disabilities. Broadly speaking, there are two different “flavors” of SNTs. Sometimes the beneficiary’s…

Trust Administration in the Real World

Trust Administration in the Real World

Trust administration rules are complicated. They involve state law on fiduciary duties. The trustee also has to worry about tax rules — estate tax, income tax, and even generation skipping transfer taxes. Trustees have to provide accounting information, and sometimes some formalities about the style and timing of those requirements. Property management — both for…