No one wants to discuss death and dying. Yet it’s a critical time for which we ought to prepare. Many people are uncomfortable starting this conversation although they may wish to share their wishes. As an important part of estate planning, healthcare decisions need to be talked about. This helps preserve your legacy and provide peace […]

  In the event of your untimely death, the manner in which your beneficiaries — or those people who receive your assets from your estate — are determined is highly dependent on how your property is titled. Generally, property with a title includes vehicles, boats, airplanes, real estate, bank accounts, savings bonds, life insurance policies, […]

  Approximately half of America’s population over the age of 16 is unmarried. While much of the discussion involving estate planning focuses on married couples, this topic is just as important for a single person. In fact, many times it is even more important that a single person have a well-coordinated estate plan. This is […]

  Baby boomers – the first generation tasked with the responsibility of planning for and funding their golden years. This generation, which includes those born between 1946 and 1964, have entered and continue to enter into retirement. As they make this financial transition into retirement, many are learning that they have made some of the […]

  In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and […]

  Preparing your company for your incapacity or death is vital to the survival of the enterprise. Otherwise, your business will be disrupted, harming your customers, employees, vendors, and ultimately, your family. For this reason, proactive financial planning — including your business and your estate plan — is key. Below are some tips on how […]

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 […]

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. […]

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 […]

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 […]