If you carry debt, do not assume that your death or incapacity will make it automatically disappear. To the contrary, the money you owe may eat away at the assets you were planning to leave to your heirs or — if you owe a large amount of money — may wipe out your estate completely. Continue reading
If you carry debt, do not assume that your death or incapacity will make it automatically disappear. To the contrary, the money you owe may eat away at the assets you were planning to leave to your heirs. Debt comes in many different forms including credit cards, student loans, car Continue reading
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. Continue reading
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 Continue reading
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 Continue reading
The idea of getting your financial and legal house in order is likely the last thing on your mind during the busy holiday season. But, getting started is much easier than you think. In fact, the end of the year is a good time to reflect upon the year that has passed and focus on your Continue reading
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 Continue reading
Deciding on a guardian for your minor children may very well be the most vexing decision you’ll make regarding your estate planning. Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible Continue reading
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. Continue reading