Lisa Sahady

A retained life estate is a powerful yet often underutilized estate planning strategy that allows individuals to transfer ownership of real property – typically a personal residence or farm – while retaining the right to live in or use the property for the remainder of their life. This arrangement offers a unique blend of control, tax benefits and legacy planning, making it an attractive option for those looking to simplify their estate and potentially support charitable causes. In a retained … [Read more...] about Understanding Retained Life Estates: A Strategic Estate Planning Tool

When purchasing a life insurance policy or receiving one through your workplace as a benefit, one of the most important decisions you’ll make is choosing your beneficiary. This designation determines who will receive the death benefit when you pass away. While it may seem straightforward, there are several nuances to consider ensuring your wishes are honored, and your loved ones are protected. First, you need to consider your beneficiary. A beneficiary is the person or entity you name to … [Read more...] about Understanding Life Insurance Beneficiary Designation: What You Need to Know

Charitable Remainder Trusts (CRTs) are a powerful estate planning tool that allows individuals to support charitable causes while also securing financial benefits for themselves or their beneficiaries. These irrevocable trusts are particularly attractive to those who wish to convert highly appreciated assets into a lifetime income stream, reduce taxes, and leave a lasting philanthropic legacy. A Charitable Remainder Trust is a type of split-interest trust. The trust splits the benefits of the … [Read more...] about Charitable Remainder Trusts: A Strategic Tool for Giving and Receiving

Having a will is one of the most critical steps an individual can take to safeguard their legacy, protect loved ones, and ensure their wishes are honored after they pass away. A financial advisor once told me, “When we pass, our money can go to three places: our family, charity or the government; we get to choose two.” A will can provide ease for surviving family members. Yet, it’s a topic that many shy away from, often because of discomfort with facing mortality or misconceptions about its … [Read more...] about Having a Will: Why it is Important for Family and Community

In today’s world, many people want to be charitable but must figure out how they can balance that desire with ensuring financial stability for themselves. For those individuals, a charitable gift annuity may be the tool they need to achieve that balance. Creating a charitable gift annuity can be easy. You donate cash or marketable securities to a foundation, a nonprofit or a charitable gift annuity program, and in exchange, the charity will promise to pay you, or a person of your designation, a … [Read more...] about Charitable Gift Annuities: A Smart Way to Give Back

According to a 2018 study by U.S. Trust, 78% of professional advisors say that discussing philanthropy with their clients is good for their business. Both advisors and clients agree that these discussions deepen relationships, including relationships with the extended family, and aid in establishing new business. This same study suggests that 43% of clients feel it is important to involve children and grandchildren in family discussions about charitable giving. Both measures have trended upward … [Read more...] about Discussing Charitable Giving Regarding Non-Cash Assets

Affordable housing is a critical issue facing communities across the United States, with impact felt macroeconomically, and for individuals and families seeking a place to call home. To confront the issue head on, many civic and governmental entities are addressing the full housing continuum, from keeping people in their homes to addressing homelessness. This comprehensive approach involves multiple strategies to ensure that everyone has access to safe, affordable and attainable housing. A … [Read more...] about How Community Foundations Can Impact Affordable Housing