Finding Peace Today
Through Planning for Tomorrow

Everyone likes money, right? Giving money to family or friends can also be a smart tax planning move.

Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?

Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.

Children and grandchildren motivate us to think about a will and life insurance. However, it is problematic to name minor children as beneficiaries.

White House officials on Monday outlined more than 20 separate actions, many of them sought by advocates and opposed by the industry.

Out of sight, out of mind isn’t just an everyday adage—it’s one of the reasons why people 50 and over fail to write a will, update a previous one, or make other estate planning decisions.

Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own your property in a way to avoid probate. As a result, people too often let common estate planning excuses stand in their way.

The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago—as well as the scheduled 50% reduction in the size of the federal estate tax exemption four years from now—has resulted in a renewed interest in estate planning for IRA and 401(k) accounts owned by married couples.

Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.