Are Pay on Death Accounts Right for You?

A payable-on-death account, also called a POD account, is a common way to keep bank and investment accounts out of probate, the court-supervised process that oversees distributing a deceased person’s property. Most people want to avoid their estate going through probate because their heirs will receive the inheritance faster, privately, and at lower cost. Is […]

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Organizing for Tax (and Estate Planning) Season

It’s the start of a new year, which means tax season—and this year’s April 17th IRS filing deadline—is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the life events that could affect your taxes in various ways. This flurry of tax prep […]

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You Can Give Away More Tax Free in 2018

After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018.   The annual gift tax exclusion for 2018 is rising from $14,000 to $15,000. This means that any person who gives away $15,000 or less to any one […]

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What to Expect from Estate Planning in 2018

As we look ahead to 2018, let’s consider a few things to watch regarding estate planning, so you and your family can be completely protected. ●     The death tax. The death tax has been in a state of flux ever since the early 2000s when the Bush administration’s first tax cuts changed the exemption and tax rates. […]

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Four Reasons Why Estate Planning Isn’t Just for the Wealthy

Estate planning is not only for the ultra-rich.  Recent polls conducted by AARP, Gallup and Caring, conclude similarly that more than half of all Americans do not have a will and significantly fewer have a comprehensive estate plan. It also appears that in recent years, the number of persons engaging in estate planning has decreased. […]

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Does My Estate Plan Need to Include My Vacation Property?

Yes! If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will encounter […]

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How A Living Trust Helps Your Family

There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, efficient asset management during long-term disability and caring for family members with special needs. Estate planning also lets you dictate how your assets will pass […]

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