Over the next 25 years, analysts anticipate $68 trillion to be passed down to younger generations and charities. While the importance of legacy planning is not limited to the forthcoming Great Wealth Transfer, it does spotlight the significant amount of wealth that has been created, primarily by Baby Boomers, and the need to transition these assets thoughtfully.
Small business owners have their hands overflowing with issues, and they devote most of their time to matters related to the smooth running of the business. Having no time to think about other matters, they do not bother about estate planning for them.
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.
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.
Your house might be your single most valuable financial asset. So you want to make sure you can give it to those you love when you die, without giving up the farm. That can be tricky.
What Is Cryptocurrency? Why Has It Been So Popular?
Some people might assume that estate planning is only for the wealthy. However, the reality is that anyone can, and should, engage in estate planning, regardless of wealth. Although creating an estate plan for same-sex couples isn’t totally different than for heterosexual couples, there are some considerations that are unique to same-sex couples.
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
In this new installment of The Estate of The Union Podcast, Brad Wiewel is joined by Ann Lumley, JD, the Director of After Life Services
