If you own a life insurance policy that has built up a sizable cash value, be aware that the death benefit will be included in your taxable estate. Depending on the size of the…
As the federal gift and estate tax exemption continues to climb, the number of people subject to estate taxes is shrinking. For those with charitable giving goals, this may increase interest in charitable remainder…
If you have minor children, perhaps the most important element of your estate plan doesn’t involve your assets. Rather, it involves who will be your children’s guardian. Questions to consider When evaluating potential…
Last year’s landmark U.S. Supreme Court decision making same-sex marriage legal in all 50 states affects estate planning for many same-sex married couples. Now, like opposite-sex married couples, same-sex married couples may be able…
It’s tax-filing season, and the April 18 deadline to file a 2015 gift tax return is fast approaching. But do you need to file a return? The rules surrounding gift tax returns can be…
A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. Insurance companies and financial institutions won’t pay large sums…
The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. As a result, estate planning —…
If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement. It provides a business’s owners and their families with valuable protection upon an…
Sharing your estate with charity by making donations during your life not only benefits your favorite organizations and reduces your taxable estate, but also can reduce your income tax bill. However, if you don’t…
