A life estate is a type of property ownership or tenancy that grants an individual the right to use and enjoy a property for the remainder or their life. It gives an ownership interest to someone else.
Step-up in basis, also known as stepped-up basis, is a wrinkle in the federal tax code that can help heirs avoid or reduce taxes on inherited assets.
With the possibility of needing long-term care in the future, many people are interested in proactive planning.
Cryptocurrency has become a new wrinkle in the development of an estate plan.
The idea of asset protection for the purposes of protecting against long-term care costs is becoming both more sought-after and more necessary.
A qualified disability trust (QDisT) is a special needs trust that qualifies for a federal tax exemption.
An individual retirement account makes it simple to invest in assets like stocks, bonds and exchange-traded funds (ETFs). However, there’s a special type of IRA called a self-directed IRA that lets you own alternative assets like real estate.
The new federal law is called the Corporate Transparency Act (the “CTA”). The purpose of the CTA is to create a comprehensive, searchable, national database of companies.
When it comes to your financial legacy, business owners and executives who accumulate a significant amount of their net worth in their company’s stock rely on the current tax law stating that the basis in assets left to heirs is “stepped up” at death, to the fair market value as of the date of death.
Millions of Americans use both traditional and Roth IRAs to save for retirement. However, that doesn’t mean they all have a full understanding of how IRAs work.
