Estate Planning Checklist: Key Steps for a Comprehensive Plan
Estate plans are made up of many parts, including wills and trusts, as well as any additional documents or information that will help beneficiaries carry out the requests of the benefactor.
Take Care of Your Furry Friend with a Pet Trust
Although in the past it may not have been the norm to provide for animals in our estate planning, times have changed.
Strategic Philanthropy: Balancing Tax Advantages and Control with Private Foundations and Charitable Trusts
Using a private charitable foundation or a charitable trust for philanthropy can both be effective vehicles for making a charitable impact while providing tax benefits. However, each structure has its own set of advantages and disadvantages from a tax planning perspective. Here’s a comparison of the two: Private Charitable Foundation: Advantages: Control: Donors can retain […]
Navigating the Emotions of Wealth Transfer
There is a massive movement of money going on right under our nose. It’s not illegal or unethical. However, it’s fraught with peril.
Do Family Secrets Hurt Estate Planning?
A study by the financial services research firm reveals just how big a problem family secrets can be, as reported in Financial Advisor’s recent article “Family Wealth Transfers Undermined by Secrecy.” Most asset holders plan to share their wishes and intentions with family members before they die. However, the research reveals only about half actually…
What to Ask a Prospective Estate Planning Attorney?
While more than half of Americans believe estate planning is essential, a mere 33% actually have a living trust or will. And one out of three respondents who don’t have a will reason that they don’t think they have sufficient assets to warrant estate planning.
Does Divorce Have an Impact on Estate Planning?
When you’re in the midst of a divorce, you’re probably not thinking about estate planning or your will. However, if you’re divorcing, you should think about the impact a divorce can have on an estate plan.
How to Avoid Common IRA Mistakes
Millions of Americans use both traditional and Roth IRAs to save for retirement. However, that doesn’t mean they all have a full understanding of how IRAs work.
Minimizing Taxes When Business Is Transferred
When it comes to your financial legacy, business owners and executives who accumulate a significant amount of their net worth in their company’s stock rely on the current tax law stating that the basis in assets left to heirs is “stepped up” at death, to the fair market value as of the date of death.
What Should I Know about Funeral Planning?
Losing a loved one is stressful enough without having to deal with a botched funeral. Preplanning, due diligence and good communication can head off difficult surprises.