Lifetime giving is a smart strategy to reduce your taxable estate, but the gift tax rate of 40% is steep. Making a “net gift” can potentially reduce your effective gift tax rate.
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Did you know that you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF.
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Do you need to file a gift tax return this year? It depends on the type of gifts you made.
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Appointing the right trust protector is critical. Given the power he or she has over your family’s wealth, you’ll want to choose someone whom you trust and who’s qualified to make financial decisions.
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Can a charitable remainder trust achieve similar results as the formerly available “stretch” IRA?
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A divorce is a life event that calls for an estate plan review and possible revisions.
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Can estate planning benefits convince you to convert your traditional IRA to a Roth IRA?
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Even with the gift and estate tax exemption amount reaching more than $12 million for 2022, making lifetime gifts continues to be a beneficial estate planning strategy.
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Much can change over one’s lifetime (personal circumstances and tax laws), making estate planning difficult. Building flexibility into your plan is key.
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Choosing the “wrong” executor could cause a multitude of problems for your family.
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Underestimating the impact of state estate taxes can upend your estate plan.
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Building your wealth around a single stock can be risky for both your investment plan and your estate plan.
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In light of the COVID-19 pandemic, are you leery about visiting your advisor’s office to attend to estate planning documents? You’re not alone, and you may have other options.
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If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, here’s a handy guide.
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If you wish to leave an educational legacy for future generations, consider using a family education trust.
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With the federal estate tax exemption so large, you may not be worried about estate taxes anymore. But it’s a good time to focus on saving income taxes for your heirs.
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Did you know life insurance proceeds could be included in your taxable estate? You can avoid this by transferring policy ownership, but you shouldn’t wait too long to do it.
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When was the last time you reviewed your estate plan? In light of the coronavirus (COVID-19) outbreak, it’s a good time to review and update your plan to provide yourself some peace of mind.
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You’re likely familiar with the benefits of a health savings account, but did you know it offers estate planning benefits as well?
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Payable-on-death (POD) accounts can be a blessing or a curse to your beneficiaries. Coordinating PODs with your estate plan is critical.
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