Can You Revoke a Power of Attorney?
You don’t actually appoint someone power of attorney (POA). A POA is a document that you execute that allows someone to act on your behalf.
April 14, 2021
Qualified Charitable Distributions are a Tool
Qualified Charitable Distributions, which allow Individual Retirement Account holders in their 70s and older to divert some of their federally taxable required distributions to charity while reducing their federally taxable income, are back after a 2020 hiatus.
April 13, 2021
Understanding How Special Needs Trusts Work
Just as you have trust in a relationship, trusting your document and those with responsibilities in the trust are crucial to obtaining your objectives.
April 12, 2021
Social Security Mistakes could cost Thousands
On its surface, Social Security seems like a fairly straightforward program. You and your employer pay a tax based on your earnings, while you work. When you retire, you get a lifelong income stream that’s somewhat tied to how much you paid into the system.
April 7, 2021
Potential Changes to the Estate Tax
Under current rules, the federal estate tax won’t ever affect you, unless you’re quite wealthy. However, that could change rapidly, even if you are far from rich.
April 6, 2021
Selling a Home after the Death of a Parent
My father passed away recently. How do we remove his name from the title to the home? Can we record a death certificate or have mom sign a new deed?
April 5, 2021
The Stretch IRA Is Not Completely Gone
In the pre-SECURE Act universe, there were designated beneficiaries. These beneficiaries could be individuals (sometimes called named beneficiaries), institutions, such as charities, or estates.
April 1, 2021
Charitable Contribution Deductions from an Estate
Ever since a group of philanthropists created the Giving Pledge in 2010, taxpayers have expressed greater interest in potential estate planning strategies that would allow them to leave a significant portion of their assets to charity upon their death.
March 31, 2021
Time to Consider Business Succession Planning
Studies have shown that the number of family businesses owned by second generations and third generations dramatically decline for a number of reasons. One large reason is the lack of business succession planning for the family business.
March 30, 2021
How the Probate Process Works
Although most assets in your estate may pass through the probate process, other assets may not. It often depends on the type of asset or how an asset is titled.
March 29, 2021