Take care when Gifting to an Heir
One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to your heirs in a manner that will help them.
November 23, 2021
How to file Taxes after your Spouse Dies
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.
November 22, 2021
What a Will Can and Cannot Do
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
November 18, 2021
A lot of Flexibility in 529 Education Plans
Most of us associate 529 accounts as college savings vehicles. They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary. However, did you know that a 529 can also be a powerful estate planning tool?
November 3, 2021
Consider a Family Meeting about Estate Planning
When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
October 21, 2021
Prevent Asset problems with thoughtful Planning
If you’re planning an inheritance, be careful about leaving these assets to a loved one. They may create more trouble than they’re worth.
October 14, 2021
Gift-Tax treated differently by IRS and Medicaid
Most people have heard that each individual is allowed to gift $15,000 per year to another person without paying a gift tax. However, exactly what the gift tax is, and the consequences of going beyond $15,000, are less clear.
October 13, 2021
What to Do with an Inherited IRA
Inheriting an IRA from a parent has a unique set of rules you need to know, which will help you make the most of the money you inherit and avoid a tax-time surprise.
October 12, 2021
Protect Loved Ones from Financial Elder Abuse
Recent studies estimate that 39.6% of Americans 65 years of age or older are victims of financial abuse.
October 11, 2021
Which Trust Is Right for You?
Estate planning is a crucial part of any holistic financial plan, and financial advisors often work with estate planning attorneys for guidance in this area.
September 21, 2021