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What’s Happening to the Estate Tax?

Under current rules, the federal estate tax won’t ever affect you, unless you’re quite wealthy. However, that could change rapidly, even if you are far from rich.

Posted on: April 7, 2021

Roth IRA has a 5-Year Rule

Established in 1997, the Roth individual retirement account has long been a favored option for retirement savings, due to its promise of tax-free withdrawals in retirement.

Posted on: April 6, 2021

Trusts can Work for ‘Regular’ People

When you hear the word trust fund, you might think of the uber-wealthy giving their kids a big chunk of cash on their 25th birthday. However, trust funds aren’t just for the rich.

Posted on: April 5, 2021

What Is Family Business Succession Planning?

Studies have shown that the number of family businesses owned by second generations and third generations dramatically decline for a number of reasons. One large reason is the lack of business succession planning for the family business.

Posted on: April 2, 2021

Does Your State Have an Estate or Inheritance Tax?

In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax. Twelve states and the District of Columbia impose estate taxes and six impose inheritance taxes. Maryland is the only state to impose both.

Posted on: April 1, 2021

What are the Stages of Probate?

Although most assets in your estate may pass through the probate process, other assets may not. It often depends on the type of asset or how an asset is titled.

Posted on: March 31, 2021

Just What Does an Executor Do?

In addition to deciding who gets what when you die, you have key roles to fill that deserve thoughtful deliberation as part of the estate-planning process, experts say.

Posted on: March 30, 2021

Can a Charity Be a Beneficiary of an Estate?

Ever since a group of philanthropists created the Giving Pledge in 2010, taxpayers have expressed greater interest in potential estate planning strategies that would allow them to leave a significant portion of their assets to charity upon their death.

Posted on: March 29, 2021

Is it Better to Have a Living Will or a Living Trust?

Whether you need a living will vs. living trust as part of your estate plan depends on your overall financial situation and goals. However, it’s helpful to consider the advantages of including one or both in your planning efforts.

Posted on: March 26, 2021

Tax Planning Strategies for 2021

Although uncertainty surrounding the likelihood of tax reform continues for the moment, there are still several wealth transfer strategies that can be considered by those wanting to make gifts.

Posted on: March 25, 2021