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Recent News & Blog

  • A revocable living trust works only if you properly fund it

    A revocable living trust is often used to complement a will. For instance, you might transfer specific securities to the trust. Notably, these assets generally don’t have to go through the probate process, which can be time-consuming and expensive.

  • Do you need to file a gift tax return?

    It’s tax-filing season and you’re likely focused on your income or business tax returns. But don’t forget about another type of return. In 2020, if you made substantial gifts of wealth to family members you may have to file a gift tax return. Filing a gift tax return

  • Dissecting the contents of a will

    For many people, the first thing they think of when they hear the words “estate plan” is a will. And for good reason, as it’s the cornerstone of any estate plan. But do you know what provisions should be included in a will and what are best to leave out?

  • Not disclosing all of your assets helps no one

    People sometimes keep assets hidden without letting their families know about their location or even that they exist. Similarly, they may have life insurance policies no one knows about. Using a fictional example, here’s why full disclosure of your assets to your family is recommended.

  • Now or later: When’s the right time to transfer your wealth?

    To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adjusted $11.7 million in 2021 — is viewed by some people as a “use it or lose it” proposition.

  • Consider your options when addressing life insurance in your estate plan

    Life insurance has long provided a source of liquidity to pay estate taxes and other expenses. Even though for many families, federal and state estate taxes aren’t a concern, life insurance continues to offer many benefits for these nontaxable estates.

  • What does a trustee do?

    Your estate plan may include several different trusts. The reason is that various types of trusts can accomplish a myriad of estate planning goals. Thus, it’s critical to understand the role of a trustee. The trustee’s duties

  • Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses

    Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes.

  • 4 questions single parents should ask about their estate plans

    Did you know that the United States has the highest rate of children living in single parent households? According to the Pew Research Center, nearly a quarter (23%) of U.S. children under the age of 18 live with one parent.

  • With a flick of the switch: Build an on-off mechanism into your estate plan

    When planning your estate, it’s critical to balance estate tax planning and income tax planning.

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