LEGAL UPDATES

Look it up: A glossary of key estate planning terms

Estate planning has a language all its own. While you may be familiar with common terms such as a will, a trust or an executor, you may not be as certain about others. For…

When one trustee isn’t enough, consider appointing a trust protector

Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you set up an irrevocable trust, you must relinquish control of the assets placed in…

A power of attorney is a critical component of an effective estate plan

While much of your estate plan focuses on actions that take place after death, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them…

Year end is gift-giving time: Use the annual gift tax exclusion to the max

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…

When the IRS Goes Viral: What You Should Know about Revenue Ruling 2023-2

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….

Consider providing your beneficiaries with the power to remove a trustee

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…

Brad Cashman Provides List of Reminders for Sellers Considering Seller Financing in Article for Finance & Commerce M&A Monthly Column

From Business Owner to Amateur Lender: What to Consider Before Agreeing to Seller Financing The lifeblood of M&A transactions is capital, and we have been fortunate enough to have recently gone through a prolonged…

The HSA: A healthy supplement to your wealth-building regimen

A Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing your other retirement savings vehicles. And it offers estate planning benefits to boot. ABCs of an HSA…

Are you and your spouse considering “splitting” gifts?

Gift splitting can be a valuable estate planning tool, allowing you and your spouse to maximize the amount of wealth you can transfer tax-free. But in some cases, it can have undesirable consequences, so…

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