estate planning

Don’t be afraid of probate

The word “probate” may conjure images of lengthy delays waiting for wealth to be transferred and bitter disputes among family members. Plus, probate records are open to the public, so all your “dirty linen” may be aired. The reality is that probate...

adminDec 04Comments Disabled

estate planning

Parental priorities: How to choose a guardian for your child

If you have minor children, arguably the most important estate planning decision you need to make is choosing a guardian for them should the unthinkable occur. If you haven’t yet made this decision, formalize your choice as soon as possible. When it...

adminNov 24Comments Disabled

estate planning

Flex plan: In an unpredictable estate planning environment, flexibility is key

The Tax Cuts and Jobs Act (TCJA) made only one change to the federal gift and estate tax regime, but it was a big one. It more than doubled the combined gift and estate tax exemption, as well as the generation-skipping transfer (GST) tax exemption. This...

adminNov 17Comments Disabled

estate planning

The net investment income tax is alive and well: How it can affect your estate plan

The Tax Cuts and Jobs Act (TCJA) reduced individual income tax rates, but it left the 3.8% net investment income tax (NIIT) in place. It’s important to address the NIIT in your estate plan, because it can erode your earnings from interest, dividends,...

adminNov 06Comments Disabled

estate planning

Don’t worry! A broken trust can be fixed

There are good reasons why estate planning advisors recommend you revisit and, if necessary, revise your estate plan periodically: changing circumstances, including family situations and new tax laws. While it’s relatively simple to change a beneficiary,...

adminOct 27Comments Disabled

estate planning

Who needs an estate plan? You do!

Despite what you might think, estate planning isn’t limited to only the rich and famous. In fact, your family is likely to benefit from a comprehensive plan that divides your wealth, protects your well-being and provides a compass for your family’s...

adminOct 27Comments Disabled

estate planning

Is a self-directed IRA right for you?

Traditional and Roth IRAs can be powerful estate planning tools. With a “self-directed” IRA, you may be able to amp up the benefits of these tools by enabling them to hold nontraditional investments that offer potentially greater returns. However,...

adminOct 06Comments Disabled

estate planning

Take advantage of the gift tax exclusion rules

As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual...

adminOct 02Comments Disabled

estate planning

Sec. 6166: Estate tax relief for family businesses

Fewer people currently are subject to transfer taxes than ever before. But gift, estate and generation-skipping transfer (GST) taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses,...

adminOct 02Comments Disabled

estate planning

The Crummey trust: Still relevant after all these years

Traditionally, trusts used in estate planning contain “Crummey” withdrawal powers to ensure that contributions qualify for the annual gift tax exclusion. Today, the exclusion allows you to give up to $15,000 per year ($30,000 for married couples)...

adminSep 24Comments Disabled

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