ESTATE PLANNING

Have you coordinated your payable-on-death accounts with your estate plan?

Payable-on-death (POD) accounts provide a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank accounts, certificates of deposit or even brokerage accounts. Setting one up is…

COVID-19: Make sure critical planning documents are accessible

Monroe Moxness Berg’s highest priority is to serve our clients. That calling has always been at the forefront of what we do, and it has never been more so than during this challenging environment resulting…

If you’re planning to move overseas, it’s time for an estate plan review

Whether you’re moving to another country for work-related reasons, retirement or simply want an opportunity to experience a new culture, it’s important to understand the potential tax and estate planning implications. If you don’t,…

Estate planning rules are different if you’re a non-U.S. citizen

Traditional estate planning strategies generally are based on the assumption that all family members involved are U.S. citizens. However, if you or your spouse is a non-citizen, special rules apply that may require additional…

Why use nongrantor trusts to bypass the SALT deduction limit

If you reside in a high-tax state, you may want to consider using nongrantor trusts to soften the blow of the $10,000 federal limit on state and local tax (SALT) deductions. The limit can…

Three pitfalls to avoid when naming a beneficiary of a life insurance policy

Life insurance can be a powerful financial and estate planning tool, but its benefits can be reduced or even eliminated if you designate the wrong beneficiary or fail to change beneficiaries when your circumstances…

BDIT lets you give away property without losing control

By temporarily doubling the gift and estate tax exemption, the Tax Cuts and Jobs Act (TCJA) opened a window of opportunity for affluent families to transfer assets tax-free. To take advantage of the higher…

Understanding the contents of a will

You probably don’t have to be told about the need for a will. But do you know what provisions should be included and what’s best to leave out? The answers to those questions depend…

Make health care decisions while you’re healthy

Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. This includes having a plan for making critical medical decisions in the…

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