Has the Pandemic Made People More Aware of Estate Planning?
Close to half of respondents earning $80,000 a year or more have a will, an increase of 7% since 2020, according to Caring.com.
Why Is Beneficiary Designation Important?
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Supplemental Needs Trust Preserves Essential Government Benefits
For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
What Is the Best Way to Leave Money to Children?
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
What Is a Pour-Over Will?
A pour-over will can be an important part of a person’s estate planning checklist.
What Do I Need to Do Right after Spouse Dies?
Losing a loved one is never easy, even if you were anticipating the loss. During the hours and days following the death of a spouse or a close family member, you may be in shock and you will likely be disoriented, emotional and feeling like you’re in a constant fog.
Do Most People Need a Living Trust?
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
When are You Required to File a Gift Tax Return?
The IRS wants to know how much you’re gifting over the course of your lifetime. This is because while gifts may be based on generosity, they are also a strategy for avoiding taxes, including estate taxes, reports The Street in a recent article “Do I Need to File a Gift Tax Return?” Knowing whether you…
Special Needs Planning
Estate planning should always be customized to each individual creating a plan. This is particularly important when planning for beneficiaries with disabilities.
Can a Vacation Home Be Kept in the Family for Generations?
These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
