Modern families come in many forms. A household may include biological children, adopted children, stepchildren or children of an unmarried partner. Even though family members may view all of these children equally, inheritance laws…
Estate planning can take on added significance when a child, spouse or other loved one has a disability. Leaving assets directly to that person — even with the best intentions — could interfere with…
If your estate plan includes gifts, bequests or other transfers to grandchildren, great-grandchildren or other beneficiaries decades younger than you, the generation-skipping transfer (GST) tax deserves careful attention. Without proper planning, transfers that skip…
Estate plans are often designed around rules that assume spouses and other family members are U.S. citizens. When one spouse isn’t a citizen — or when an individual owns U.S. property but lives abroad…
Laws governing the execution of a valid will vary by state, but they generally require certain formalities. For example, a will typically must be signed by the person making it — known as the…
Trusts can serve many purposes in an estate plan, from managing assets during your lifetime to controlling how property passes to beneficiaries after your death. Two broad categories are inter vivos trusts and testamentary…
Life insurance can provide critical financial protection for the people who depend on you or help you achieve other estate planning goals. But to serve its intended purpose, the coverage amount, policy type, ownership…
Do you hold an interest in a business that’s closely held or family owned? If so, a buy-sell agreement should be a component of your estate plan. It establishes how your ownership interest (and…
As property values continue to rise, homeowners with large estates may be looking for ways to preserve family wealth while minimizing future estate tax exposure. One strategy that may help accomplish these goals is…
