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Reaching Potential: Planning for Families With Young Children  


Author:  John R.  Wiktor.


Source: Volume 28, Number 02, Winter 2011 , pp.73-81(9)




Journal of Taxation of Investments

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Abstract: 

One of the most important non-tax aspects that drive clients to seek out advice is estate planning for minor children. Planning for the future is an important task for all parents, who strive daily to instill values in their children and also to provide them with the freedom to make choices with parental guidance. Unexpected events can upset parental visions of the future, but with careful advance planning, clients can provide a “roadmap” to smooth the way. This article addresses many of the issues associated with planning for families who have minor children, including naming a guardian, establishing a testamentary trust. establishing lifetime gift trusts, and investments of minors’ trusts.

Keywords: estate planning, minor children, appointment of guardians, testamentary trusts, gifting strategies

Affiliations:  1: Horwood Marcus & Berk, Chartered.

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