Planned Gifting
Planned gifting is an expansive term used to cover the many estate planning techniques that a high net worth person can engage in to transfer wealth to their heirs with minimal tax consequences. The range and type of planned gifting a donor may engage in will often depend upon the donor’s age, the types of assets owned, the basis of […]
Trust Planning
There are thousands of different trusts and a trust for almost every type of need. Oftentimes, four or five types of trusts get combined together in one. For example, a Life Insurance Trust is almost always set up as an “irrevocable trust”, a “Crummey Trust”, a “spousal lifetime access trust”, an “asset protection trust”, a […]
Revocable Living Trusts
A Revocable Living Trust, in general, describes any trust that is created by a person for that person’s own benefit while he or she is alive, and then directs where the trust funds should be distributed after the person’s death. Effectively, a Revocable Living Trust is part Financial Power of Attorney and part Will, wrapped up into one […]
Philanthropic Planning
Clients are often interested in making gifts to charities. Philanthropic planning is the use of advanced estate planning techniques to get more out of the charitable giving you wish to do. By committing to a future charitable gift now, you can create additional value for your charities and secure immediate tax benefits. At The Pollock […]
Medical Powers of Attorney
Health Care Powers of Attorney and Medical Powers of Attorney Regardless of your wealth, everyone needs a Health Care Power of Attorney (also known as a Medical Power of Attorney). A Health Care Power of Attorney is a document that allows one person (the “Grantor”) to name another (the “Agent”) to make health care decisions […]
Last Will and Testament
Not everyone needs a fancy or expensive Last Will and Testament; it really depends upon your wealth and the complexity of your situation. However, at The Pollock Firm LLC, we believe everyone should have at least a basic Will. Here are some of the most important reasons why: A Will Allows You to Decide WHERE […]
IRA Stretch Trust
Most people have a retirement account such as an IRA, 401(k), ROTH IRA, SEP, 403(b), 457, or another similar plan. If you own a retirement account, you are entitled to name a beneficiary who will receive the account upon your death. You can name an individual, a charity, a traditional trust, an IRA Stretch Trust, or […]
International Estate Planning
The attorneys at The Pollock Firm LLC frequently counsel clients with respect to their international estate planning needs. We live in a mobile society and many clients assets around the world. To meet that need, we understand that comprehensive estate planning must be done on both a domestic level and an international level. Comprehensive international […]
Guardianships
If a person is not competent to make his or her own decisions, and that person has not made a Power of Attorney, then you can only obtain the legal authority to act on behalf of the incapacitated person if a court appoints you as a Guardian. That person is then referred to as your “Ward”. […]
