PHILADELPHIA (CBS) - Want to make a return? Got your driver's license? Wait. Why? In this season of buying, giving, and returning, you may be asked to present a receipt and then, with or without the receipt, you might be asked for your driver's license. Here's a news flash-it's not to validate your parking.
Crummey trusts may have a strange-sounding handle, but they're a powerful estate-planning tool. The vigilance required in executing Crummey trusts properly isn't small, but can benefit you and your heirs exponentially. Crummey powers-named for Methodist minister D. Clifford Crummey, who won a 1968 court case allowing this workaround-are a means of making tax-free gifts while still retaining some control of the money.