Recent News & Blog / Estate Planning
If Art Donations are Part of Your Estate Plan, Consider These Four Tips
Charitable giving is a key part of estate planning for many people. If you have a collection of valuable art and are charitably minded, consider donating one or more pieces to receive tax deductions. Generally, it’s advantageous to donate appreciated property to avoid capital gains taxes.
Properly Funding Your Revocable Trust is the Key to Unlocking Its Benefits
If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management (in the event you become incapacitated) and probate avoidance.
Companion Piece: Create a "Road Map" for Your Estate Plan
No matter how much effort you’ve invested in designing your estate plan, your will, trusts and other official documents may not be enough.
Moving a Trust Over State Lines Can Offer Tax Savings and Other Benefits
People who live in states with high income taxes sometimes relocate to a state with a more favorable tax climate. A similar strategy can be available for trusts.
Hastily Choosing an Executor Can Lead to Problems After Your Death
Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought.
Sudden Impact: When a Spouse Unexpectedly Dies
What if the unthinkable happens and your spouse dies unexpectedly? Would you be prepared to cope emotionally and financially? As the surviving spouse, you’ll face several tasks and challenges.
Have You Had Your Annual Estate Plan Checkup?
An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan.
Automatic Extension Available for Making Portability Election
Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or at death.
Unleash the Power of a Nonspringing Power of Attorney
Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself.
Should You Name a Trust as IRA Beneficiary?
An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly.