ESTATE PLANNING

How The One, Big, Beautiful Bill proposes to change the gift and estate tax exemption

The Tax Cuts and Jobs Act (TCJA) effectively doubled the unified federal gift and estate tax exemption — and annual inflation adjustments have boosted it even further. For individuals who make gifts or die…

From the simple to the complex: 6 strategies to protect your wealth from lawsuits and creditors

Asset protection is a strategic approach to safeguarding your wealth from potential lawsuits and creditor claims. Indeed, protecting your assets is critical in today’s litigious environment. Without proper planning, a single lawsuit or debt…

Have you made arrangements for your pets in your estate plan?

For many people, pets are more than just animals — they’re cherished members of the family. Yet, when it comes to estate planning, their future care can be overlooked. Including your pets in your…

After a person dies, his or her debts live on

One question the family of a deceased person often asks is: What happens to debt after a person dies? It’s important to realize that a person’s debt doesn’t simply vanish after his or her…

Have you and your spouse coordinated your estate plans?

When it comes to estate planning, married couples often assume that simply naming each other in their wills or designating each other as beneficiaries is sufficient. However, unintended consequences can result if you and…

Members of the “sandwich generation” face unique estate planning circumstances

Members of the sandwich generation — those who find themselves simultaneously caring for aging parents while supporting their own children — face unique financial and emotional pressures. One critical yet often overlooked task amid…

Factor in GST tax when transferring assets to your grandchildren

If you’re considering making asset transfers to your grandchildren or great grandchildren, be sure your estate plan addresses the federal generation-skipping transfer (GST) tax. This tax ensures that large estates can’t bypass a round…

Sharing your estate plan’s details with family has pros and cons

When it comes to estate planning, one important decision many people struggle with is whether to share the details of their plans with family members. There’s no one-size-fits-all answer — it largely depends on…

Stepped-up basis rules can ease the income tax bite of an inheritance

With the federal gift and estate tax exemption amount set at $13.99 million for 2025, most people won’t be liable for these taxes. However, capital gains tax on inherited assets may cause an unwelcome tax…

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