The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion. Treasury Releases New Inflation Adjustment … [Read more...] about Treasury Releases New Inflation Adjustment
Incapacity Planning
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...] about Incapacity Planning
Trusts for Privacy
Trusts have many uses. Perhaps the most important is that they can provide privacy at death. Garry Shandling is thought to have used a trust to provide privacy for those he left behind. Trusts for Privacy … [Read more...] about Trusts for Privacy
What’s a 529 Plan and What Are the Benefits to Using One?
Would you be interested in a way to save money for education and get tax benefits simultaneously? A 529 plan might be what you’re seeking. Find out more by reading the benefits of a 529 plan. What’s a 529 Plan and What Are the Benefits to Using One? … [Read more...] about What’s a 529 Plan and What Are the Benefits to Using One?
Estate Planning: It’s Not Just About the Estate Taxes
The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just About the Estate Taxes … [Read more...] about Estate Planning: It’s Not Just About the Estate Taxes
Planning for Frequent Flyer Miles
This article examines the transfer of frequent flyer mile accounts to beneficiaries. It looks at Anthony Bourdain’s will and its disposition of his miles. The article points out that these are contractual rights and you may or may not be able to transfer them at death. Planning for Frequent Flyer Miles … [Read more...] about Planning for Frequent Flyer Miles
6 Important Estate Planning Considerations – Part 6: Taxes
An estate plan considers many important aspects. One of the many aspects to consider is the impact of taxes. This article examines some of the many ways consideration of taxes might impact an estate plan. 6 Important Estate Planning Considerations – Part 6: Taxes … [Read more...] about 6 Important Estate Planning Considerations – Part 6: Taxes
Planning for the International Client
Estate planning for the international client can be tricky. This article looks at the estate tax treatment of U.S. citizens and non-resident aliens. The article then looks at an example of someone who lived in the U.S. and then departed. Planning for the International Client … [Read more...] about Planning for the International Client
Dead Hand Control: How Much is Too Much?
This article examines trying to exert control over your beneficiaries after death. Often, clients try to dictate the exact manner in which funds are used. Usually, it is a better course to give the trustee discretion. Dead Hand Control: How Much is Too Much? … [Read more...] about Dead Hand Control: How Much is Too Much?
How Are You Planning for Long-Term Care (LTC) Expenses?
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here are possible paths for covering those potential costs. How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...] about How Are You Planning for Long-Term Care (LTC) Expenses?
