Recent News & Blog / Estate Planning
Now or later: When’s the right time to transfer your wealth?
To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adjusted $11.7 million in 2021 — is viewed by some people as a “use it or lose it” proposition.
You Have Options When Addressing Life Insurance in Your Estate Plan
Life insurance has long provided a source of liquidity to pay estate taxes and other expenses. But, with the estate tax exemption currently set at an inflation-adjusted $10 million ($11.40 million for 2019), estate taxes are no longer a concern for many families.
Consider your options when addressing life insurance in your estate plan
Life insurance has long provided a source of liquidity to pay estate taxes and other expenses. Even though for many families, federal and state estate taxes aren’t a concern, life insurance continues to offer many benefits for these nontaxable estates.
What does a trustee do?
Your estate plan may include several different trusts. The reason is that various types of trusts can accomplish a myriad of estate planning goals. Thus, it’s critical to understand the role of a trustee. The trustee’s duties
Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses
Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes.
4 questions single parents should ask about their estate plans
Did you know that the United States has the highest rate of children living in single parent households? According to the Pew Research Center, nearly a quarter (23%) of U.S. children under the age of 18 live with one parent.
With a flick of the switch: Build an on-off mechanism into your estate plan
When planning your estate, it’s critical to balance estate tax planning and income tax planning.
Review your estate plan in light of a new presidential administration
As President-elect Joe Biden moves forward with the transition and prepares for the inauguration next month, you may be wondering how the federal estate tax may be affected.
Avoid these four estate planning deadly sins
According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of these from time to time, other types of “sins” can be fatal to an estate plan if you’re not careful. Here are four transgressions to avoid.
Only specific trusts are eligible to hold S corporation stock
S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, no more than one class of stock and only certain types of shareholders.