Tag: Trusts
Get started now and perhaps save yourself that last-minute work. It may be a few months before the end of the year. However, you can save yourself a lot of time and money, by beginning to organize your financial planning now, according to USA Today in “Retirement tips: 8 Ways to start your year-end financial […]
There are several measures you can use to protect yourself and your family. The life expectancy for Americans is getting longer and longer, with the concept that the longer you live the more likely you’ll have an even longer life span, according to Kiplinger, in “Are You Ready for Longevity? 4 Steps to Take Now“. […]
It’s easy to put off starting an estate plan. However, you really do want to take care of your family. Why should you have an estate plan? There are many reasons and many goals, including providing for your spouse and children, as well as dealing with a family business, minimizing tax liabilities and naming the […]
Second marriage? You’ve entered a brave, new world, when it comes to estate planning. A second marriage can sometimes create a problem, because the biggest reason that stepparents and stepchildren fight is over money, according to the AARP in “Don’t Split Heirs With Your Estate“. If you and your spouse are each financially independent and […]
Knowing the difference between a will and a trust is crucial, as well as how they will work for you as estate planning tools. Estate planning is unique to the particular circumstances of the individual or family. However, the two different tools that often come to the forefront are wills and trusts, according to nwitimes.com […]
There are many reasons to look at your old estate plan. What should not be forgotten is that everyone needs a will. There are many reasons to revisit your estate plan that don’t include the new tax laws that doubled the individual estate gift and GST tax exemptions to about $11.2 million per person (and […]
There are new tax laws in the country. However, there is still time to make necessary adjustments. If you have not already reviewed your estate plan and taken the new tax laws into consideration, now is the time to do so, according to Reuter’s article “Your estate plan needs an update even if it is […]
Deductions for state and local taxes face a new limit. One of the more controversial changes in the new tax laws passed in late December was that the itemized deduction for state and local taxes is now limited to $10,000. Some state governments have tried to figure out a way around the limit for their […]
Planned giving is one way to leave a good legacy. Assets are often the first thought about estate planning. However, that does not mean your other values have to be left out of your estate plan completely. You can use your estate plan for planned charitable giving, according to the Nashua Telegraph in “Planning to […]
Joint ownership means you don’t have to go through probate. However, the risks are high—very high. A parent will sometimes decide to add a child to the deed to their home and that means an equal share. It also means that if the child has creditors, they can seek to make claims against the home. However, that […]
