Affluent estate owners are opting to support their children and grandchildren financially during their lifetimes. We explore three strategies that can maximize tax-free giving to consider in your estate planning.
Getting married in middle age or beyond, is not only a significant personal milestone, it’s also one of the biggest financial decisions of your life.
Capital gains taxes are the heart of the IRS Rule 2023-2 changes. Individuals pay taxes on the difference between an asset’s purchase price and a higher sell price as that asset’s value grows over time. When creating or updating an estate plan, you must consider the new IRS rule.
Thorough communication with heirs about values and various elements of your estate plan could help younger generations better manage their inherited wealth.
We explore the critical importance of addressing cognitive decline in estate planning to safeguard assets and ensure intended inheritance.
The Estate of The Union Season 3|Episode 3 is out now! Taxes come in all favors. Sales taxes, excise taxes, capital gains taxes, etc. We
Learn how to qualify for the annual gift tax exclusion by maximizing the benefits of a Crummey trust. Understand withdrawal power and more.
There are two sides to a succession plan. One is for the operation of the company, and the other is for the ownership of the deceased owner’s share.
If the strategy is executed properly, an individual can disclaim interest in an inherited IRA and avoid any of the gift and income tax consequences associated with receiving the property.
If you’re considering a bypass trust as part of your estate plan, consulting with an experienced estate planning attorney is essential. They can help you understand if a bypass trust is the right option for your situation and guide you through the process of setting one up.
