Stites On Estates

Estate, Trust, and Tax Planning
Stites On Estates

Minor Children and IRA/401Ks Beneficiary Designations: Dangers and Concerns

As a parent, one of the most difficult issues that I have had to deal with is what would happen to our young child should anything happen to my wife and I. No one likes...
by Stites & Harbison, PLLC July 20, 2015
Stites On Estates

Design Options for Education Trusts

I often work with "Wealth Creators" who have built substantial wealth themselves, most notably as founders of companies or early-stage employees at startups.I also work with "Inheritors" managing wealth built in prior generations for the...
by Stites & Harbison, PLLC July 18, 2015
Stites On Estates

What About the "Stuff"? - Options for Distributing Tangible Personal Property from Estates or Trusts

During an estate or trust administration, it's easy to divide and distribute financial assets. Distributing tangible personal property (such as furniture, collections, artwork, jewelry, etc.) can be much harder.Executors, trustees, and beneficiaries are usually very...
by Stites & Harbison, PLLC July 11, 2015
Stites On Estates

Avoiding Family Fights In Estate Administration

Estate administration can be a frustrating experience for families and their advisors, because it's an occasion when families fight. Sometimes the fights are necessary, and unavoidable. Many other times, to a detached observer, the fights...
by Stites & Harbison, PLLC July 04, 2015
Stites On Estates

Regional Economic Risk and Your Personal "Plan B"

Lately I've been thinking a lot about what a "Corporate Event" at Humana might mean for Louisville. A rosy analysis I've heard suggests that Aetna might buy Humana, and then move its headquarters here. We'd...
by Stites & Harbison, PLLC June 14, 2015
Stites On Estates

Managing Risk: Inheritance Strategies for the Upper Middle Class

Several months ago I read Cut Adrift: Families in Insecure Times by Marianne Cooper, a Stanford sociologist. Cooper's chapters on the extremely professionally successful upper middle class and their project of "doing security" were particularly...
by Stites & Harbison, PLLC June 07, 2015
Stites On Estates

Using an LLC to Maintain Privacy When Buying Residential Property

Last week, Business First of Louisville published a report and slideshow on the top 25 largest residential real estate transactions of the first quarter of 2015 in Jefferson County.It might surprise you to know that...
by Stites & Harbison, PLLC May 31, 2015
Stites On Estates

Managing Volatility: Inheritance Strategies for the Lower Upper Class

This week I've been reading Claire Tomalin's Jane Austen: A Life. That's risky for me to admit, as surveys show the female/male ratio of "Janeites" runs about 25:1. Mockery from readers may be unavoidable, and...
by Stites & Harbison, PLLC May 23, 2015