July 29, 2022 •
Estate Planning 
Upstream basis planning is a trust strategy that can save wealthy people on their capital gains taxes and income taxes associated with highly appreciated assets.
Read MoreMarch 31, 2022 •
Estate Planning 
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
Read MoreMarch 21, 2022 •
Estate Planning 
Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
Read MoreMarch 17, 2022 •
Estate Planning 
The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago—as well as the scheduled 50% reduction in the size of the federal estate tax exemption four years from now—has resulted in a renewed interest in estate planning for IRA and 401(k) accounts owned by married couples.
Read MoreJanuary 6, 2022 •
Estate Planning 
One of the most useful estate planning tools is a trust, which can be used to create a legacy of wealth and protecting assets. One question to consider when creating one, is whether a grantor or non-grantor trust is more appropriate. A non-grantor trust is any trust that is not a grantor trust.
Read MoreDecember 2, 2021 •
Estate Planning 
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
Read MoreMarch 17, 2021 •
Estate Planning ![]()
My 91-year-old mother-in-law died on Dec. 13, 2020. There was no will, so we are currently working our way through the probate process. Her income was less than $20,000 a year from Social Security and we can’t find any tax returns she filed. Was she required to file?
Read MoreSeptember 28, 2020 •
Estate Planning ![]()
My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.
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