If your college-age child is home for the holidays, it may be the perfect opportunity for the two of you to meet with an estate planning attorney to draft an estate plan for him…
With the holidays approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using the annual gift tax exclusion, those gifts — within generous limits…
It is not every day that my social media feed is filled with memes, click bait, and TikTok videos about IRS rulings, but Revenue Ruling 2023-2 caused enough shock and panic to go viral….
If you wish to leave a charitable legacy while generating income during your lifetime, a charitable remainder trust (CRT) may be a viable solution. In addition to an income stream, CRTs offer an up-front…
To ensure that a trust operates as intended, it’s critical to appoint a trustee that you can count on to carry out your wishes. But to avoid protracted court battles in the event the…
At the very least, your estate plan should include a legally valid will governing the disposition of assets upon your death. But comprehensive estate planning often goes much further. For instance, you may provide…
There’s a common misconception that owning assets jointly with a child or other heir is an effective estate planning shortcut. While this strategy has a certain appeal, it can invite a variety of unwelcome…
When planning their estates, many affluent people agonize over the impact their wealth might have on their children. Bill Gates reportedly said, “I won’t leave a lot of money to my heirs because I…
Payable-on-death (POD) accounts can provide a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank accounts, certificates of deposit and even brokerage accounts. Setting one up…
