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What Do I Need to Know About Owning Property with Someone Other than My Spouse?

It's very common for spouses to title property they own together as ‘joint with right of survivorship.’ When one passes, the other owns the property outright. It’s simple, easy and automatic. However, it can get messy when the other joint owner isn’t your spouse.

Posted on: December 24, 2019

Sometimes, Estate Tax Planning Can be a Challenge, Even for a Judge

A judge said he remains unsure how to rule following a four-day trial, in which the IRS accused a taxpayer of using life insurance policies to avoid estate taxes.

Posted on: December 23, 2019

Tips for Choosing a Fiduciary

Being a fiduciary is a time-intensive and intellectually challenging task to put upon an individual.

Posted on: December 20, 2019

Three Decades of Inheritances for Boomers

The rich aren't just getting richer. They're also getting older. Fortunately for their children, they're set to leave plenty of money in the bank.

Posted on: December 19, 2019

What Does Portability Mean, and How Do I Use It?

Portability first emerged as an estate planning strategy in 2011 and 2012 from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. It was made permanent by the American Taxpayer Relief Act of 2012.

Posted on: December 18, 2019

Can You Explain the Concept of Step-Up Basis?

There are several tax concepts that are important for real estate investors, but for many people, step-up in basis is one of the least understood.

Posted on: December 17, 2019

I’ve Inherited an IRA – Now, What about Taxes?

One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.

Posted on: December 16, 2019

What If Only One Parent Is Willing to Plan?

My parents are in their 70s and they don’t have anything planned. I’ve spoken with them about the importance of planning.

Posted on: December 13, 2019

What Should I Keep in Mind, When I Remarry?

When you remarry, you're not only combining residences with your new spouse, you're also merging your finances. If you have children, it may involve some financial-related stress. For instance, you might need to factor in child support payments or consider whether your new marriage will impact your children's inheritance.

Posted on: December 12, 2019