Financial Planning

Trends in 529 College Savings Plans

Posted on: October 28th, 2014
As student loan debts are at historic highs, new families are responding by investing in the next generation’s college savings. Record high funding of 529 College Savings Planswas recently reported by financial asset management company Strategic Insight....

Permitted Distributions for Special Needs Trusts

Posted on: February 13th, 2014
If you are starting to explore options for Special Needs Trusts in North Carolina, one of the first differences you discover are “third party” trusts and “self-settled” trusts. ...

Protecting Tangible Assets

Posted on: December 27th, 2013
Asset protection in North Carolina is not limited to preservation of investments and financial accounts. Art, antiques, classic cars, and other collectible items require asset protection tools and careful tax planning. ...

NC 529 College Savings Deduction Repealed 2014

Posted on: November 25th, 2013
The North Carolina state tax deduction for contributions made to 529 College Savings Plans will be repealed effective January 1, 2014. Before this date, taxpayers are able to deduct $2,500 contributions annually. ($5,000 for married taxpayers filing jointly.)...

3 Concerns for Minors Inheriting IRAs

Posted on: November 7th, 2013
Beneficiary designations for Individual Retirement Accounts (IRAs) allow account holders to designate a trust, charity, or any individual, regardless of their age, as a beneficiary. ...

Swiss Accounts: New Tax Terms for Offshore Accounts

Posted on: October 12th, 2013
Offshore trusts offer many benefits, which our attorneys explain in this foreign trust protection post. Offshore trusts or accounts are not exempt from domestic taxes, however some taxpayers have illegally used offshore accounts as a means of tax evasion....
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