Nov 06 What Are the Different Kinds of Trusts?
Additionally, trusts work on behalf of your beneficiaries in your absence. Not all trusts are the same, however....
Apr 19 When Death Do Us Part
Ideally, a prenup will be drafted in alignment with the corresponding will. However, in situations in which the two documents are in direct contradiction with one another, courts tend to prioritize the prenup over the will as long as the former document was negotiated fairly...
Dec 16 Give Your Heirs a Fair Shake
For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront....
Nov 17 The Dangers of Procrastination
If you dither and procrastinate over creating even a straightforward will or simple trust, you put the future finances of your family and loved ones in jeopardy. You risk that the assets you have worked for a lifetime to accumulate or protect will not be...
Aug 25 Gift Characterizations Cast Long Shadows
Back in 1913, Woodrow Wilson began his first term as president, and Americans first filed Form 1040s. Right from the beginning, Congress told the IRS to enforce rigid rules for compensation and to forget about gifts. The IRS followed orders....
Jul 29 Tax Breaks for Older Couples Who Sell Their Homes
Consider Irene, who recently became a widow when her husband, Henry, died. Like most married couples, they held the title to their home in joint ownership with the right of survivorship. In plainer language, this means that co-owner Henry's death results in his loss of all...
Jun 28 Now Is the Time To Revisit Your Estate Plan
COVID-19 has made estate planning even more complicated. This post discusses the three basic areas to review as you reassess your estate plan, including the tax strategies that have become more advantageous because of the current financial and economic environment....
Nov 25 How to Avoid the Top 10 Estate Planning Errors
Myths and misconceptions about estate planning abound. This post shares the most common mistakes to avoid and help your family save thousands of dollars in unnecessary taxes and probate fees....
Oct 08 Estate Planning for Those Under 40
The earlier you start planning your estate, the more choices you'll have. If you start now, your plan will help keep your loved ones from becoming stressed if you suddenly become disabled or pass away. This post discusses some important factors to consider to help you begin...
Dec 03 Estate and Gift Tax Update: No Clawback After Increased Transfer Limit Expires
On November 25, 2018, the IRS issued proposed regulations, which indicate that gifts made before January 1, 2026, will not be clawed back to the estates of decedents dying after December 31, 2025. The issuance of these proposed regulations strengthens a tremendous opportunity for the...
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