{"id":515,"date":"2023-08-21T15:34:56","date_gmt":"2023-08-21T15:34:56","guid":{"rendered":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/?page_id=515"},"modified":"2023-08-21T15:53:21","modified_gmt":"2023-08-21T15:53:21","slug":"annuities","status":"publish","type":"page","link":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/annuities\/","title":{"rendered":"Annuities"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"515\" class=\"elementor elementor-515\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f0d3433 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"f0d3433\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-54449f4\" data-id=\"54449f4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-212bb06 elementor-icon-list--layout-inline elementor-align-center elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"212bb06\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Home<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-ellipsis-h\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5639f48 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5639f48\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-9327d33 animated-slow elementor-invisible\" data-id=\"9327d33\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f12ae46 elementor-widget__width-auto elementor-widget elementor-widget-image\" data-id=\"f12ae46\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"95\" height=\"95\" src=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/pattern-4.png\" class=\"attachment-large size-large wp-image-53\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5111d6 animated-slow elementor-invisible elementor-widget elementor-widget-image\" data-id=\"d5111d6\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:500}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/xczxc.png\" class=\"attachment-large size-large wp-image-519\" alt=\"\" srcset=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/xczxc.png 960w, https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/xczxc-300x169.png 300w, https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/xczxc-768x432.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f858b4 elementor-widget elementor-widget-eael-feature-list\" data-id=\"8f858b4\" data-element_type=\"widget\" data-widget_type=\"eael-feature-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"-icon-position-left -tablet-icon-position-left -mobile-icon-position-left\">\n\t\t\t<ul id=\"eael-feature-list-8f858b4\" class=\"eael-feature-list-items circle stacked \">\n\t\t\t                <li class=\"eael-feature-list-item elementor-repeater-item-01952ca\">\n                    \n\t\t\t\t\t\t<div class=\"eael-feature-list-icon-box\">\n\t\t\t\t\t\t\t<div class=\"eael-feature-list-icon-inner\">\n\n\t\t\t\t\t\t\t\t<span class=\"eael-feature-list-icon fl-icon-0\">\n\n\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"eael-feature-list-content-box\">\n\t\t\t\t\t\t\t<h3 class=\"eael-feature-list-title\"\t\t\t\t\t\t\t><\/h3\t\t\t\t\t\t>\n\t\t\t\t\t\t<p class=\"eael-feature-list-content\">Anything that happens in probate is part of the public record and it can be a time-consuming and expensive process your family can avoid. <\/p>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/li>\n\t\t\t\t                <li class=\"eael-feature-list-item elementor-repeater-item-ac89b44\">\n                    \n\t\t\t\t\t\t<div class=\"eael-feature-list-icon-box\">\n\t\t\t\t\t\t\t<div class=\"eael-feature-list-icon-inner\">\n\n\t\t\t\t\t\t\t\t<span class=\"eael-feature-list-icon fl-icon-1\">\n\n\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"eael-feature-list-content-box\">\n\t\t\t\t\t\t\t<h3 class=\"eael-feature-list-title\"\t\t\t\t\t\t\t><\/h3\t\t\t\t\t\t>\n\t\t\t\t\t\t<p class=\"eael-feature-list-content\">You can use an irrevocable family trust to insulate assets from creditors.<\/p>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e788bb7 elementor-widget elementor-widget-text-editor\" data-id=\"e788bb7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Putting your assets into a trust means they no longer belong to you and, therefore, aren\u2019t subject to estate tax.\u00a0\u00a0 You can appoint yourself as trustee of this fund while you\u2019re alive, ensuring you can access your assets and distribute the money as you see fit.\u00a0\u00a0 You can then will the trust to an heir when you pass away.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-362d8f3 elementor-widget__width-initial elementor-absolute elementor-widget elementor-widget-image\" data-id=\"362d8f3\" data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"95\" height=\"95\" src=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/pattern-4.png\" class=\"attachment-large size-large wp-image-53\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-3934f63\" data-id=\"3934f63\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8d7b558 elementor-widget elementor-widget-heading\" data-id=\"8d7b558\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Family Participation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bffb088 elementor-widget elementor-widget-text-editor\" data-id=\"bffb088\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Trusts are used to manage\u00a0<strong>estate taxes<\/strong>, shelter assets from creditors and pass on wealth to future generations.\u00a0 A family trust is a specific type of trust that families can use to create a financial legacy for years to come.\u00a0\u00a0 There are several benefits to creating one, including ensuring your family members receive your wealth and avoiding public disclosure of trust assets.\u00a0\u00a0 However, not every family necessarily needs a family trust, as there are other options too.<\/p><p>An <strong>estate tax<\/strong> is most notably levied at the federal level, and it\u2019s charged to a decedent\u2019s estate when their assets pass on to their beneficiaries.\u00a0\u00a0 Most estates won\u2019t trigger the\u00a0federal estate tax\u00a0though, as it only applies to estates worth $12.92 million ($25.84 million for couples) in 2023, minus any applicable gifts.\u00a0\u00a0 Because this tax can have a significant effect on your beneficiaries, it\u2019s best to plan ahead for it in your estate plan if you think your estate may trigger it.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-95fe194 elementor-widget__width-initial elementor-absolute elementor-widget elementor-widget-image\" data-id=\"95fe194\" data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"80\" height=\"80\" src=\"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-content\/uploads\/2023\/08\/pattern-5.png\" class=\"attachment-large size-large wp-image-57\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2fad19a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2fad19a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ff55eb\" data-id=\"1ff55eb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df0d21d elementor-widget elementor-widget-text-editor\" data-id=\"df0d21d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3><strong>6 Ways to Minimize Your Heirs\u2019 Tax Burden<\/strong><\/h3><p>There is still the question of how much your heirs can inherit without paying taxes, and the reality is that it depends. There are some steps you can take to minimize taxes, though, giving your heirs an advantage:<\/p><p><strong>Gift Your Money<\/strong><\/p><p>Start by gifting your heirs money every year.\u00a0\u00a0 The annual exclusion amount for 2023 is $17,000 ($34,000 per married couple).<\/p><p><strong>Convert Retirement Accounts to Roth Accounts <\/strong><\/p><p>Your heirs will have to pay tax on any retirement benefits they inherit if they\u2019re in a 401(k) or\u00a0<a href=\"https:\/\/bogartwealth.com\/traditional-ira\/\">IRA<\/a>.\u00a0\u00a0 Have heirs use gifts to create and add to Roth IRA or Roth 401(k).<\/p><p><strong> Life Insurance<\/strong><\/p><p>A good life insurance plan can set your heirs up in the future.\u00a0\u00a0 Indexed Universal Life (IUL) = Tax-Free Investment for your heirs.<\/p><p><strong>Annuities with a Death Benefit<\/strong><\/p><p>Annuities with a death benefit provide a lump sum payout for your beneficiary.<\/p><p><strong>Real Estate<\/strong><\/p><p>Real estate will likely be one of the most significant non-liquid assets you pass to your heirs. Capital gains tax applies to\u00a0<a href=\"https:\/\/bogartwealth.com\/how-to-add-real-estate-investment-to-portfolio\/\">real estate<\/a>, but only on gains the property makes after the beneficiary inherits it.<\/p><p><strong>Investment Accounts<\/strong><\/p><p>Your investment accounts can provide tax breaks for your heirs. Investments are similar to real estate because your beneficiaries are only on the hook for taxes on the gains those investments make after they inherit them.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home Anything that happens in probate is part of the public record and it can be a time-consuming and expensive process your family can avoid. You can use an irrevocable family trust to insulate assets from creditors. Putting your assets into a trust means they no longer belong to you and, therefore, aren\u2019t subject to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-515","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/pages\/515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/comments?post=515"}],"version-history":[{"count":13,"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/pages\/515\/revisions"}],"predecessor-version":[{"id":535,"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/pages\/515\/revisions\/535"}],"wp:attachment":[{"href":"https:\/\/demo-websitedesigns.com\/growingcommunityx\/v1\/wp-json\/wp\/v2\/media?parent=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}