Posted on: November 2, 2022
Intentionally Defective Grantor Trusts in Estate Planning Learning that your estate plan contains a defect might not seem like good news. But despite the moniker, an intentionally defective grantor trust (IDGT) can be a valuable tool for minimizing estate taxes and maximizing the money and property passed on to a spouse, descendants, or other beneficiaries. […]
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Posted on: October 27, 2022
Dynasty trusts: you don't have to be rich, just farsighted When people create estate plans, they typically focus on handing down their money and property to their children, grandchildren, and other living heirs. But some people want to leave behind a more enduring legacy. A dynasty trust could be the answer for those interested in […]
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Posted on: October 24, 2022
It’s easy to overlook an important task after a spouse or other loved one passes away – like retitling assets. It’s a little thing with big ramifications. Follow this checklist to help make a challenging time less confusing.
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Posted on: October 13, 2022
Your Divorce Decree: The First Step in Estate Planning You have recently divorced your spouse, and the judge has signed the divorce decree. Now what? Although you may feel you have spent enough time and money on lawyers, there is one last attorney you need to talk to: an estate planning attorney. If you and […]
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Posted on: September 21, 2022
Generation-skipping transfer tax When it comes to federal taxes, most people are very aware of the federal income tax because, if they earn a paycheck, they cannot help but notice the deductions each pay period. But there are lesser-known taxes such as the capital gains tax (a form of income tax), the estate tax, the […]
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Posted on: September 15, 2022
Handling S Corporation Interests in Estate Planning: Electing Small Business Trusts and Qualified Subchapter S Trusts One of the many challenges of owning a small business is determining the appropriate tax classification of the company. When an individual owns a business entity classified either entirely or partially as an S corporation, it is essential to […]
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Posted on: September 1, 2022
You have searched for and found the love of your life, maybe your first love, or maybe after a previous marriage. As you have built your life together, you have probably weathered your fair share of storms and grown stronger because of them. To prepare for the future and the possibility of no longer being […]
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Posted on: July 14, 2022
the powers in your financial power of attorney In a financial power of attorney, you designate a trusted decision-maker (agent or attorney-in-fact) to act on your behalf if you become disabled or unable to manage your financial affairs. Depending on the provisions you choose to include, your agent may have the power to buy and […]
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Posted on: July 7, 2022
how to Make sure that vacation property endures as a source of warm memories According to the National Association of Home Builders, in 2018, there were approximately 7.5 million second homes. That means up to 5.5 percent of the total number of homes are vacation properties.[1] These homes are not only real estate that you […]
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