TITLE

Incentive Trusts and Foreclosure: When Incentives Become Disincentives

AUTHOR(S)
Gallo, Eileen
PUB. DATE
April 2008
SOURCE
Journal of Financial Planning;Apr2008, Vol. 21 Issue 4, p44
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the psychological concept of foreclosure and discusses the possibilities of beneficiaries losing their true selves or identity. It talks about the use of incentive trusts and the reason why people create such trusts. It determines how one develop his or her identity as well as the conflict between external and internal value systems. Also, it examines the effects of the failure to distinguish between internal and external motivation. It concludes that incentive trusts create a view of money as a goal to achieve rather than as a tool to use.
ACCESSION #
31527703

 

Related Articles

  • Fair Play. Jervey, Gay // Money;Jul2004, Vol. 33 Issue 7, p80 

    This article focuses on estate planning and the issue of how much money to leave to children after death.In her 12 years as a paralegal, Marlene Foth of Concord Township, Ohio had heard more than her fair share of horror stories featuring families devastated by inadequate estate planning. When...

  • Don't let a windfall blow away. Altfest, Lewis J. // Medical Economics;7/23/2004, Vol. 81 Issue 14, p21 

    Focuses on the advantages of investing inheritance. Background on money market investments; Examination of inherited securities for excessive risk and overlap; Ways of asserting a more aggressive investment style.

  • The Ideal Legacy Planner. Foley, Patrick M. // Advisor Today;Feb2006, Vol. 101 Issue 2, p50 

    The article offers advice to insurance and financial advisors on how to guide their clients in their legacy transfer planning. A study has found that for the large majority, legacy transfer has more to do with emotional factors than with the money. Advisors have the opportunity to play the role...

  • Engineering An Estate Plan For A House Divided. Hersch, Warren S. // National Underwriter / Life & Health Financial Services;3/12/2007, Vol. 111 Issue 10, p12 

    The article discusses the complexities of developing an estate plan for a family whose members are not related by birth but by a marriage between a step-parent and a biological parent in the U.S. It includes information on the challenging aspects of creating an estate plan that is satisfactory...

  • Conclusion.  // Your Pennsylvania Wills, Trusts & Estates Explained Simply: Impo;2009, p219 

    The article provides inputs relating to estate planning. It notes that individuals have sufficient information to ask informed questions and start to narrow down such huge idea concept of estate planning into one's goals, wills, and trusts. It recommends individuals to treat themselves to a...

  • Use an incentive trust to motivate. Grill Jr., Norman G. // Fairfield County Business Journal;10/13/2008, Vol. 47 Issue 41, p17 

    The author explains the use of an incentive trust in estate planning. He claims that an incentive trust sets guidelines for how a beneficiary becomes eligible to benefit from the trust. He says that through an incentive trust, a testator does not only transfer wealth to his beneficiaries but...

  • Splitting wealth has tax advantages. Tippins, Mark // Southeast Farm Press;12/5/2007, Vol. 34 Issue 27, p33 

    The author discusses the unlimited marital deduction and the benefits it offers. He also talks on the importance of establishing and funding a trust, the Family Trust and the Spousal Trust, to create an estate plan. It aims to leave the maximum amount in the Family Trust share and give...

  • The importance of estate planning.  // New Zealand Doctor;8/15/2007, p33 

    The article discusses the benefit of estate planning. This is one of the most important areas in managing one's financial affairs. Estate planning is done in such a way that financial affairs are being dealt before one dies. It is an up to date will which aims to benefit beneficiaries. This...

  • Trusts offer benefits now, and in the future. Baker, Trixie // British Columbia Medical Journal;Sep2013, Vol. 55 Issue 7, p337 

    This article presents information on trust, which can be a valuable component of estate planning. It is noted that a well-established trust can allow for a number of advanced tax and estate-planning strategies. It can also provide several benefits when assets are transferred during one's...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics