A defined-value gift may be right for you if you’re transferring hard-to-value assets. However, to pass muster with the IRS, precise language must be used in the transfer document.
Read More
Ambiguous language in your estate plan may lead to family disputes after your death.
Read More
If you own real estate in multiple states, consider using a revocable trust to minimize or avoid excessive probate costs after your death.
Read More
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.
Read More
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.
Read More
Do you need to file a gift tax return this year? It depends on the type of gifts you made.
Read More
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.
Read More
Can a charitable remainder trust achieve similar results as the formerly available “stretch” IRA?
Read More
A divorce is a life event that calls for an estate plan review and possible revisions.
Read More
Can estate planning benefits convince you to convert your traditional IRA to a Roth IRA?
Read More
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.
Read More
Much can change over one’s lifetime (personal circumstances and tax laws), making estate planning difficult. Building flexibility into your plan is key.
Read More
Choosing the “wrong” executor could cause a multitude of problems for your family.
Read More
Underestimating the impact of state estate taxes can upend your estate plan.
Read More
Building your wealth around a single stock can be risky for both your investment plan and your estate plan.
Read More
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.
Read More
If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, here’s a handy guide.
Read More
If you wish to leave an educational legacy for future generations, consider using a family education trust.
Read More
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.
Read More
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.
Read More