Articles Posted in Inheritance

Which Of These Powerful Secrets Could You Use To Build Your Ideal Estate Planning Legal Program

  • Keep your estate settlement simple;
  • Avoid the court-supervised Probate process when you die;

Let’s face it. many people HATE paying tax. And many people hate paying income tax when distributions are made from their IRA.8942c891917593748f2b7930878e34f5-300x300

We recently were working with a gentleman from our area on his estate plan. He owned property in Dane County. He had never been married and he never had children.

He wanted to leave some things and some money to a family member of his, but he liked the idea of setting up some scholarship funds. So, after quite a bit of discussion, he decided to name his college as the beneficiary of part of his IRA when he died. But he did not want the funds from his IRA to go into the general funds of the college. So, we are restricting the IRA so that it can only be used in a certain curriculum of the university. Now, he knows that students in his prior field will benefit from scholarships that he establishes.