Addressing adopted children or stepchildren in your estate plan

Families that have children who are adopted, or stepchildren who haven’t been legally adopted, may face unique estate planning challenges. Additional consideration must be taken when a family includes an unmarried couple in a long-term relationship and one person has biological or adopted children. If your family’s makeup is as such, it’s important to understand […]

Opening up to SLAT opportunities

Estate tax planning can become complicated when multiple parties are involved. For example, you may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for your children from your first marriage. Of course, you also want to take advantage of favorable estate tax provisions in the law. Fortunately, […]

A tenancy-in-common interest can ease distribution of real estate

If your estate includes significant real estate investments, the manner in which you own these assets can have a dramatic effect on your estate plan. One versatile estate planning option to consider is tenancy-in-common (TIC) ownership. What is tenancy-in-common? A TIC interest is an undivided fractional interest in property. Rather than splitting the property into […]

Should a tax apportionment clause be in your estate plan?

Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families that still have to contend with significant federal estate tax liability. Plus, the exemption is scheduled to drop significantly in 2026, and reducing it sooner has been proposed. Even if you aren’t subject to federal […]