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How to Avoid Probate

How can we avoid probate and reduce the estate tax for our beneficiaries, who are our two adult children?

Posted on: May 10, 2021

Should Young Families have an Estate Plan?

Putting your last wishes on paper is critical to ensuring your family is taken care of when you die.

Posted on: May 7, 2021

Will Inheritance and Gift Tax Exemptions Change in 2021?

The increase in the exemption is set to lapse after 2025. However, the Treasury Department and the IRS issued “grandfather” regulations in 2019 allowing the increased exemption to apply to gifts made while it was in effect, if Congress lowers the exemption after those gifts.

Posted on: May 6, 2021

How to Protect Digital Property

While cryptocurrency isn’t new, it’s attracted a lot of attention in the past year because of its skyrocketing value, promotion from prominent figures like billionaire Elon Musk, and bitcoin offerings from traditional financial firms like Morgan Stanley.

Posted on: May 5, 2021

What can a Power of Attorney Do—or Not Do?

The person signing the power of attorney, which gives someone else the authority to act for them, is called the ‘principal’ and the person who is given the power to act for you is called your ‘agent.’

Posted on: May 4, 2021

How Does an Inherited IRA or 401(k) Work?

So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.

Posted on: May 3, 2021

What Is a Living Trust Estate Plan?

While a Last Will can help ensure that one’s wishes regarding the distribution of their estate upon death are followed, it is the living trust that allows the estate to avoid probate.

Posted on: April 30, 2021

What Is Family Business Succession Planning?

If you plan to pass your business to your offspring, there is more to keep in mind when creating your succession plan than your descendants—there are also their spouses—especially if they become ex-spouses.

Posted on: April 29, 2021

Common Mistakes when Making Beneficiary Designations

Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.

Posted on: April 28, 2021

Should I Discuss Estate Planning with My Children?

Many baby boomers may hesitate to discuss money with their children. However, the reality is that a massive amount of wealth will be transferred in the next couple of decades. Cerulli Associates estimates that about $68 trillion will move between generations within 25 years, with most of those assets transferred to Generation X households.

Posted on: April 27, 2021