Although there is certainly no shortage of people with selfish or malevolent intent, a great number of estate plans that end in disaster are due to unintended consequences. Read more
estate planning
Step-up in basis, also known as stepped-up basis, is a wrinkle in the federal tax code that can help heirs avoid or reduce taxes on inherited assets. Read more
While many people think that estate planning is only for the wealthy, experts say that’s not the case. Read more
There are certain provisions that people often forget to put in a will or estate plan that can have a big impact on a family. Read more
How this is handled now depends on the plans the deceased made when they were alive. For some people, that might mean probate. Read more
It is essential that women do not surrender the responsibility of managing their financial affairs and devising their estate plan to their family … but take complete charge of this important duty. Read more
Nobody likes thinking about what happens if they should become incapacitated or die. However, we all need to have a plan in place for just these possibilities. Read more
It is a common misconception that only the ‘uber rich’ need an estate plan, when in actuality, everyone should have a plan. Read more
Federal estate taxes were created in 1916, taxing estates valued at over $5 million. This amount changed to $50 million in 1932. In 1940, it dropped to $10 million, then $5, then $3. In 2002-2007 estates worth more than $2 million paid the tax. Read more
Many families discover that trying to mitigate the cost of long-term care can conflict with another common retirement concern—reducing taxes for retirees and their heirs. Read more
