by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Charitable Gift Annuity? A charitable gift annuity is a contract or an agreement between an individual and a charity, where such individual transfers assets to a charity in return for a partial income tax deduction and a regular lifetime income sizable to...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Conservatorship? Conservatorship refers to a United States’ legal concept where a court judge gives an individual the authority to manage the financial and personal affairs of an incapacitated person. The conservators establish and monitor the physical...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Beneficial Interest? A beneficial interest refers to the right to get benefits on assets held by a different party. The beneficial interest often relates to issues addressing trust accounts. For instance, most beneficial interest arrangements take the form...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Coverdell Education Savings Account (ESA)? A Coverdell Education Savings Account is a tax-advantaged trust account for savings to cover educational expenses for beneficiaries. The beneficiaries of the savings account must not be over 18 years, except for...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Charitable Lead Trust? A charitable trust is a form of irrevocable trust which is developed to mitigate or cause a decline in the taxes to be paid by the beneficiary of an inheritance in the advent of a transfer of property. How Does a Charitable Lead Trust...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Charitable Remainder Annuity Trust? A Charitable Remainder Annuity Trust (CRAT) is a form of a gift transaction in which a contributor (which is the taxpayer) donates assets or financial securities to a charitable organization which pays annuity designed to...
