A Second Marriage can complicate Estate Planning
Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?
March 29, 2022
Charitable Trusts a Rewarding way to make an Impact
A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.
March 16, 2022
Incorporate Cryptocurrency into your Estate Plan
In today’s digital era, the departed will be survived by their electronic footprints, such as iPhone photo albums, Spotify playlists—and cryptocurrency wallets.
March 15, 2022
Bypass Trust gives Flexibility in managing Taxes
The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago—as well as the scheduled 50% reduction in the size of the federal estate tax exemption four years from now—has resulted in a renewed interest in estate planning for IRA and 401(k) accounts owned by married couples.
March 14, 2022
Do You Need an Attorney for Probate?
A competent elder law or estate attorney can discuss and use, where appropriate, such provisions as the family exemption, benefits to prepaying inheritance tax, even where the tax return is not yet complete and a listing of itemized deductions.
March 10, 2022
Medicaid Annuity might be an Option
For couples who face depleting their own assets, using a Medicaid-compliant annuity could be a way to preserve assets and still qualify for Medicaid.
March 7, 2022
Debt doesn’t Disappear when Someone Dies
Adult children typically don’t have to pay their parents’ bills. However, there are exceptions. Even when a child doesn’t have to pay directly, debt could reduce what they inherit.
March 4, 2022
A Trust provides more flexibility than a Will
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
March 2, 2022
Options to give Assets to Minor Grandchildren
You have many options to make sure your wishes are followed after you die.
February 28, 2022
Carefully consider which Assets to place in Trust
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries and it can significantly reduce the headaches of probate.
February 18, 2022