SHHHH, THIS IS A SILENT TRUST, LET’S KEEP IT QUIET!
Generally, estate planning advisors recommend that you be upfront with family members about how you plan to divide your assets. For example, you might hold a family meeting or write a letter to accompany your will. However,...
CONSIDER ALL THE ANGLES OF JOINT OWNERSHIP
CONSIDER ALL THE ANGLES OF JOINT OWNERSHIP
Estate planners generally tout the virtues of owning property jointly — and with good reason. Joint ownership offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning woe. You must also be aware of all the...
Decanting
BREATHE NEW LIFE INTO A "BROKEN" TRUST BY DECANTING IT!
Building flexibility into your estate plan using various strategies is generally advised. The reason is that life circumstances change over your lifetime, specifically changing tax laws and family circumstances. This is especially true during the novel coronavirus (COVID-19) pandemic. One such strategy to...
Estate Planning Pitfall- You Have Not Created a Road Map for your Estate Plan
ESTATE PLANNING PITFALL
You haven’t created a road map for your estate plan
You’ve probably spent a lot of time creating documents for your estate plan, including a will, trusts and a power of attorney. While these documents are essential for your plan, your family could also use a “road map” to...
The CARES Act – Recent Tax Law Changes
The CARES Act
Recent tax law changes may affect your estate plan
The Coronavirus Aid, Relief and Economic Security (CARES) Act is designed to provide immediate tax relief to individuals and businesses struggling to make ends meet due to the novel coronavirus (COVIOD-19) pandemic. But this law may also have a long-reaching...
Take the Proper Steps to Insulate your Estate from Creditors
TAKE THE PROPER STEPS TO INSULATE YOUR ESTATE FROM CREDITORS
For years, you may have viewed estate taxes as the main threat to your family fortune, especially if you own a successful business or valuable real estate. But with the federal gift and tax exemption set at $11.58 million for 2020, estate...
The CARES Act Creates Charitable Tax Incentives
THE CARES ACT CREATES CHARITABLE TAX INCENTIVES
Many individuals incorporate charitable giving into their estate plans, providing assistance to their favorite charities while preserving sufficient assets for their heirs. Typically, the charitable donations are structured to maximize the tax benefits on the books.
Now, the Coronavirus Aid, Relief and Economic Security (CARES)...
THE CARES ACT
THE CARES ACT
Recent tax law changes may affect your estate plan
The Coronavirus Aid, Relief and Economic Security (CARES) Act is designed to provide immediate tax relief to individuals and businesses struggling to make ends meet due to the novel coronavirus (COVIOD-19) pandemic. But this law may also have a long-reaching...
HOW DOES THE SECURE ACT AFFECT ESTATE PLANNING?
HOW DOES THE SECURE ACT AFFECT ESTATE PLANNING?
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the biggest retirement planning law in decades. However, when all is said and done, the new law may have just as significant an impact on estate planning, especially if younger individuals are in...