Category: Estate Planning

You’re attempting to create your estate plan with DIY tools

Interested in trying to prepare your own estate plan? There are resources available to assist you, such as online services, computer software and how-to books. Do-it-yourself (DIY) estate planning may save you a few hundred dollars, or even a...

This asset-class requires special planning

When it comes to estate planning, addressing all your assets is a priority. However, some assets require greater attention than others. For example, if your assets include unregistered securities, such as restricted stock or interests in hedge funds or private equity funds, you must...

Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at a minimum or zero tax cost. Of course, a will is a good starting point, but it may be supplemented by various other...

Spoiler alert: In the acclaimed HBO series “Succession,” the patriarch of a family-run business, Logan Roy, fails to name a clear successor. After his sudden death, the family is ripped apart. Eventually the business is sold to outsiders under dire conditions.

Don’t think that your family is immune from...

Thanks to a generous federal gift and estate tax exemption amount ($13.61 million for 2024), only the wealthiest of families are exposed to estate tax liability. For many, this means that estate planning now has a stronger focus on income tax planning. And one of the most valuable tax planning areas is...

The average length or retirement is 18 years, according to the U.S. Census Bureau. And with today’s medical technology, it could last significantly longer. Thus, a major challenge is balancing the need to maintain your standard of living while preserving as much of your wealth as possible for your family to enjoy...

You’ve likely spent most of your adult life accumulating wealth that you intend to eventually pass on to your loved ones. But are you concerned that one or more beneficiaries of your estate might squander their inheritance?

One solution is to establish a spendthrift trust that can provide protection...

When creating your estate plan, there is a certain amount of prognosticating involved. What will your financial picture look like years into the future? How will the estate tax laws change? No doubt one of the biggest challenges involved with estate planning is all the uncertainty. One option to hedge your bets...

Generally, it’s advantageous to keep funds in your retirement accounts for as long as possible. Indeed, the longer you refrain from withdrawing funds, the longer they must continue tax-deferred growth.

However, you must begin taking required minimum distributions (RMDs) from employer-sponsored retirement plans, such as 401(k) plans, and IRAs...