by designonetest | Jan 8, 2016 | Estate Planning, Uncategorized
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!...
by designonetest | Jan 5, 2016 | Estate Planning, Estate Tax, Uncategorized
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...
by designonetest | Jan 4, 2016 | Estate Planning, Estate Tax, Uncategorized
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,...
by designonetest | Jan 3, 2016 | Estate Planning, Estate Tax, retirement planning, Uncategorized
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...
by designonetest | Jan 2, 2016 | Estate Planning, retirement planning, Uncategorized
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...
by designonetest | Dec 31, 2015 | Estate Administration, Estate Planning, Special Needs Planning, Uncategorized
On December 19, 2014, President Obama signed the Achieving a Better Life Experience Act (ABLE Act) into law. The ABLE Act will allow certain individuals with disabilities to establish tax-free savings accounts that can be used to cover expenses not otherwise covered...
