The simplest way to provide financial assistance to a child or other family member is to get out your checkbook and make a gift. But if you’re concerned about gift taxes, a loan may…
For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses. Today, estate taxes are no longer a concern for many…
If you have aging parents who aren’t as financially well off as you are, one of your estate planning goals may be to help fund their long-term care (LTC) and associated medical expenses. The…
Many people set up a revocable, or “living,” trust to shield assets from probate and take advantage of other benefits. For the trust to work, you must transfer assets to it that would otherwise…
If you’re charitably inclined, age 70½ or older and have a significant balance in an IRA, a charitable IRA rollover — formally called a “qualified charitable distribution” — permits you to annually make up…
A 529 plan is a tax-advantaged and flexible education-savings tool. In addition to generous contribution limits and tax-free withdrawals for college expenses, these plans provide unique estate planning benefits for parents and grandparents. On…
If you’re in a second marriage, or planning another trip down the aisle, estate planning can be complicated, especially if you have children from a previous marriage and your net worth is large enough…
If you’re an employer, you may think of your employees as family. But if you plan to provide for employees in your estate plan, watch out for unintended tax consequences. IRS rules Generally, money…
Estate planning is often associated with death. But it’s just as important for your plan to address incapacity associated with illness, injury, advanced age or other circumstances. Unless you specify how financial and health…
