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How to Avoid Sending Your Loved Ones (and Assets) through Probate
Many people now use a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or guardianship (due to...
Wills Vs. Trusts: Take Control of Your Wealth Distribution!
You work hard for your money and want to ensure that your wealth distribution goes according to your wishes upon death. Sadly, many people simply don't understand the difference between wills and trusts and how they can affect inheritance. Don’t be one of them! Take...
What the Recently Released 2016 IRS Inflation Adjustments Mean for You
The Internal Revenue Service has released the official inflation adjustments that will affect 2016 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes. These changes will affect the way your accountant...
Listen Up: These States Will Usher in Changes to Their Death Taxes in 2016
In 2015, there are still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania,...
What You Need to Know About the Final Estate Tax Portability Rules
Recently the IRS issued the final rules governing the “portability election” as it relates to the federal estate tax exemption. Married couples need to understand how these final rules may affect their existing estate plans, while recent widows and widowers need to...
Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse
With cases of financial exploitation of the elderly on the rise, advisors who work with older clients are looking for ways to head off the abuse before it happens. Enter the “Emergency Contact Authorization Form,” a document in which clients can list a trusted person...
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