How Divorcing over Fifty effects Estate Planning
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
May 23, 2022
Portability can be used to Protect Farm
One of the most overlooked and misunderstood tax laws – available to married farming couples – is an opportunity called portability.
May 10, 2022
Best Uses of Life Insurance Benefits
There are many options, but the best use of the money is different for each widow and her unique circumstances.
May 5, 2022
Planning for Special Needs Requires Care
Estate planning should always be customized to each individual creating a plan. This is particularly important when planning for beneficiaries with disabilities.
May 3, 2022
When to File a Gift Tax Return
The IRS wants to know how much you’re gifting over the course of your lifetime. This is because while gifts may be based on generosity, they are also a strategy for avoiding taxes, including estate taxes, reports The Street in a recent article “Do I Need to File a Gift Tax Return?” Knowing whether you…
May 2, 2022
GRATs are used to Reduce Taxes
It took a lot of hard work and dedication to acquire your wealth. You want to transfer as much of it as you can to your beneficiaries. As a result, having a large estate means you’ll have to pay quite a bit in gift and estate taxes.
April 26, 2022
Maximize the Benefits of a Trust Fund
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
April 21, 2022
There are the New IRA Distribution Rules
The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e., 401ks, 403bs, etc.) and individual retirement accounts (IRAs).
April 20, 2022
Several Ways to Avoid Probate
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
April 19, 2022
Keeping the Vacation Home for Generations
These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
April 18, 2022