SLAT is Increasingly Popular for Married Couples
A SLAT is an irrevocable trust set up while both spouses are still alive, in which one spouse is the designated beneficiary of the other spouse.
December 12, 2022
Steps to Ensure a Smooth Probate
The probate process can be expensive for some estates. Settling an estate through probate can cost you both time and money.
December 7, 2022
Protect the Family Business for the Next Generation
Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
December 6, 2022
Steps to Minimize Inheritance Battles
In early 2022, Bloomberg News reported that Americans can expect to inherit $72.6 trillion over the next quarter century—more than twice as much as a decade ago. With so much potential generational wealth on the line, there is always a risk that it will become the subject of a dispute.
December 1, 2022
Prenup is a Useful Tool in Estate Planning
A prenuptial agreement can save you a lot of money and time should your marriage end. Often called a prenup, this document lays out how your assets and debts will be distributed should your marriage end.
November 30, 2022
529 Plans are a Strategy for Estate Planning
You can set up a 529 savings plan account for any beneficiary. You can also set up accounts for as many beneficiaries as you want.
November 28, 2022
Funds Available to Help Seniors Age in Place
It’s common for older adults to leave their homes and move into a new living space – like a family member’s house, assisted living facility or nursing home – but a recent effort by the U.S. Department of Housing and Urban Development is hoping to change that and help older homeowners instead age in place.
November 17, 2022
A Few Ways to Transfer Home to Your Children
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
November 16, 2022
Steps to Avoid Inheritance Conflicts
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
November 9, 2022
Take Care When Naming a Co-Trustee
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
November 8, 2022