June 4, 2020 •
Estate Planning ![]()
A trust can be used to manage estate taxes, shelter assets from creditors and pass on wealth to future generations. A family trust is a specific type of trust that families can use to create a financial legacy for years to come. There are several benefits to creating one, although not every family necessarily needs one. If you’re curious about where this type of trust might fit into your family’s estate plan, here’s what you need to know.
Read MoreApril 23, 2020 •
Estate Planning ![]()
If you've heard of trust funds but don't know what they are or how they work, you're not alone. Many people know just one key fact about trust funds: they're set up by the ultra-wealthy as a way to protect passing on significant sums of money to family, friends or entities (charities, for example) after they pass away.
Read MoreApril 13, 2020 •
Estate Planning 
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
Read MoreMarch 31, 2020 •
Estate Planning ![]()
Having an estate plan is among the most important things you can do for your loved ones. It is, however, a task many of us dread and put off dealing with until later in life. If there is one thing we can recommend, it is that it is never too early to start planning. However, it can be too late. Do you have an estate plan that will provide for your loved ones, in the event of death or upon incapacity?
Read MoreMarch 30, 2020 •
Estate Planning ![]()
There are some major financial benefits to tying the knot. From IRAs to Social Security and tax exemptions, there are many reasons (besides the obvious one: love) for older couples to say I do.
Read MoreMarch 26, 2020 •
Estate Planning ![]()
There were only approximately 1,900 taxable estates in the U.S. in 2018, which is less than 0.1 percent of people who died that year.
Read MoreMarch 17, 2020 •
Estate Planning ![]()
About 55% of Americans do not have a will. Even more worrisome is the fact that less than one in five millennials have a will. The top reason why Americans don’t have a will, is simply procrastination, followed by the feeling of not having enough assets, and a fact that it’s too expensive to set up.
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The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.
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Estate planning attorneys will agree that it is better to die with a properly drafted will, than to die without one. If you don’t have one, consider getting one.
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