The Lippencott Blog

Charitable Lead Trust

Posted at 9:20am on June 4, 2018

A Charitable Lead Trust (CLT) can be an attractive tool for making gifts to family members with little or no transfer tax. The grantor designates a charitable beneficiary to receive annual payments for a period of time, with the remainder interest either reverting back to the grantor or passing to other non-charitable beneficiaries, such as the grantor’s heirs or a trust for their benefit. A grantor can establish a CLT during life or by a Will. Transfers to a CLT may provide income, gift, or estate tax benefits.

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Tax-Advantaged Education Funding

Posted at 2:00pm on May 21, 2018

Saving for college education can be an intimidating undertaking for many parents who may be inexperienced with tax laws, and unsure how to balance their own financial goals, such as saving for retirement and the financial needs of their children. There are many options available to finance a child’s education, and which one or more options to choose requires consideration of many important factors.

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Using a Business to Fund Life Insurance

Posted at 2:10pm on April 23, 2018

For owners, owner-employees, and non-owner employees, personal insurance may be funded through the business a number of different ways. Cash value life insurance, in particular, is frequently employed due to the fact that it can provide long-term insurance protection for one’s family and estate planning needs, as well as act as a tax-efficient source of retirement accumulation funds.

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Domestic Asset Protection Trust

Posted at 12:20pm on February 5, 2018

A Domestic Asset Protection Trust (DAPT) is an irrevocable trust created by the grantor in which the grantor is a permissible beneficiary. Normally, if a trust is “self-settled,” the grantor’s creditors are able to access trust assets. However, seventeen states have enacted laws in varying forms that allow a grantor to be a beneficiary of a discretionary trust he/she creates, and to varying degrees the assets are protected from creditors.

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Charitable Gifting: Overview and Tax Implications

Posted at 10:40am on December 22, 2017

The desire to assist a charitable organization must be a primary motive for making a gift; if no charitable inclination exists, charitable giving is difficult to justify. Alternatively, if a charitable motive exists, the tax laws provide various methods and incentives to encourage the donor’s goodwill. The following summarizes the general rules applicable to charitable giving, including a discussion of some common strategies used.

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