Estate Planning Archives - Monroe Moxness Berg

Can a split annuity strategy help you achieve a balance in retirement?

You may be currently facing this dilemma: You’ve retired (or you’re approaching retirement) and, while you want to maintain your current standard of living, you also want to preserve as much of your wealth…

A living will is an important addition to your overall estate plan

A living will could provide peace of mind for both you and your family should the unthinkable occur. Yet many people neglect to draft this important estate planning document. Will vs. living will It’s…

Look it up: A glossary of key estate planning terms

Estate planning has a language all its own. While you may be familiar with common terms such as a will, a trust or an executor, you may not be as certain about others. For…

When one trustee isn’t enough, consider appointing a trust protector

Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you set up an irrevocable trust, you must relinquish control of the assets placed in…

Don’t skip out on planning for the GST tax

Does your estate plan call for making gifts to your grandchildren or other loved ones more than one generation below you? Or, perhaps to you want to leave assets to nonrelatives who are decades…

What are your options to fund long-term care expenses?

Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing home or an assisted living facility…

Four ways to make an incentive trust more effective

Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and…

April 15 is the deadline to file a gift tax return

Not only is April 15 the deadline to file a 2023 income tax return and pay any taxes due, it’s also the deadline to file a gift tax return. If you made substantial gifts…

Lines may blur when it comes to estate and family business succession planning

Owners of closely held businesses typically have a significant portion of their wealth tied up in their enterprises. If you own a closely held business with your relatives involved, and don’t take the proper…

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