ESTATE PLANNING

It may be in your best interest to file a gift tax return

If you’ve given a significant financial gift to a family member, you may wonder whether you’re required to file a gift tax return. Even if no tax is due, filing Form 709, United States…

Single and child-free? Here’s why estate planning is still crucial

Even if you’re single and have no children, having an estate plan helps ensure your final wishes are clearly documented and respected. Estate planning isn’t solely about passing assets on to direct descendants; it’s…

Do you have the right amount of life insurance coverage?

Life insurance plays a vital role in your estate plan because its proceeds can provide for your family in the event of your untimely death. And for wealthier families, life insurance proceeds can cover…

A revocable trust can be a versatile tool in your estate plan

A revocable trust (sometimes referred to as a “living trust”) is a popular estate planning tool that allows you to manage your assets during your lifetime and ensure a smooth transfer of those assets…

Charitably inclined? Pair a donor-advised fund with your estate plan

Your estate plan is the perfect place to make charitable gifts if you’re a charitably inclined individual. One vehicle to consider using is a donor-advised fund (DAF). What’s the main attraction? Among other benefits,…

Balancing legacy and independence: The role of an inheritor’s trust

An inheritor’s trust is a specialized estate planning tool designed to protect and manage assets you pass to a beneficiary. One of its primary advantages is asset protection. It allows your beneficiary to receive…

Leaving specific assets to specific heirs may lead to unintentional outcomes

Does your estate plan leave specific assets to specific family members? If so, you may want to reconsider your plan. While it may be tempting to say, leave your son your classic car and…

The ins and outs of relocating your trust to a tax-friendlier state

It’s not uncommon for people who live in states with high income taxes to relocate to states with more favorable tax climates. Did you know that you can use a similar strategy for certain…

Estate planning Q&A: Guardianship

If you’re the parent of a newborn, toddler or older child, you may be thinking about naming a guardian for him or her. This can be a difficult decision, especially if you have many…

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