The Quorum Private Wealth guide to trusts
Trusts (or trust funds) are one of those financial planning terms that starts to feel diluted over time. People have a general sense of what trusts are, but many would be hard pressed to define the specifics. Given how important trusts can be to a strong financial, estate, and tax plan, we want to spend […]
How GRATs work
Grantor retained annuity trusts (GRATs) are a type of irrevocable trust designed to pass assets to beneficiaries in a tax-optimized way. These trusts pay an income (or annuity) to the grantor or trustor—the person who set up the trust—for a specified duration, usually a few years. After that period, the assets in the trust pass […]
Long-term health care and your legacy
Most of us will need some form of long-term care as we age—and long-term care is notoriously expensive. While wealthy families may not need to worry about the cost of care, failure to plan for these expenses can jeopardize a family’s long-term plan and legacy. Let’s walk through how you might approach long-term care as […]
How to build generational wealth
There’s a proverb about wealth that’s so prevalent we see versions of it across countries and cultures: shirtsleeves to shirtsleeves in three generations. In other words, family wealth never survives more than three generations. The Scots put it even more bluntly: The father buys, the son builds, the grandson sells, and his son begs. To […]
Do you have an estate plan?
An estate plan can help create security for your family. Yet misconceptions surround estate planning. Many people think you need to be ultra-wealthy to create one, or that they’re only relevant if you have dependent children. However, an estate plan can be helpful in a variety of different scenarios. For instance, a healthcare directive can […]
