When we learned of the original provisions in the Build Back Better Act, many individuals panicked, rushing to complete Estate Planning or seeking to undo certain aspects of their estate plan. As the Build Back Better Act has evolved, many wondered if they should have waited before making significant changes to their estate plan. No matter what happens with the Build Back Better Act, an estate plan centered on long-term goals will serve you well. Read on to learn more. … [Read more...] about The Sky Isn’t Falling
Legal Education
Practical Lessons in Drafting
Individuals who undertake Estate Planning want to ensure that their plan works the way it’s intended. When clients neglect to consider Estate Planning on a regular basis, they set themselves up for failure. Waiting until an emergency arises almost guarantees that the plan will fail when needed the most. Estate Planning completed under duress can lead to unfavorable results. Read on to learn more. … [Read more...] about Practical Lessons in Drafting
It’s Better to Give Than to Receive
Most taxpayers understand that to receive the benefit of charitable deductions, they need to itemize their income tax deductions. However, in the wake of the pandemic, Congress passed legislation allowing even those who take the standard income tax deduction to benefit from a charitable income tax deduction. Read on to learn more. … [Read more...] about It’s Better to Give Than to Receive
Don’t be a Turkey – Use Your Annual Per Donee Exclusion Amount
As fall turns into winter and the holiday season arrives, it’s natural to review the year, plan for the next, and count your blessings. One of the ways to plan for the next year, and perhaps to address some outstanding concerns in this one, is to consider making annual per donee exclusion gifts. This article will explore annual exclusion gifting and demonstrate how gifts of seemingly modest amounts can be a powerful estate planning tool. Read on to learn more. … [Read more...] about Don’t be a Turkey – Use Your Annual Per Donee Exclusion Amount
Living in a Digital World and the Importance of Planning for Cryptocurrency
Cryptocurrency has become increasingly popular as a form of investment in recent years. More and more established financial institutions recognize cryptocurrency and allow its use. As cryptocurrency becomes mainstream, it’s important to consider estate planning implications for holding this digital asset. Read on to learn more. … [Read more...] about Living in a Digital World and the Importance of Planning for Cryptocurrency
It Can Be Scary to Die Without an Estate Plan…the HORRORS of Intestacy
Many souls believe that if they lack means, they do not need an estate plan. Nothing could be further from the truth. If you die without an estate plan, your assets may not be distributed as you would wish and the results could be downright scary. Read on to learn more. … [Read more...] about It Can Be Scary to Die Without an Estate Plan…the HORRORS of Intestacy
Neither Age Nor Health Determines Whether You Need an Estate Plan
Most people associate Estate Planning with the elderly or very wealthy. This article explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more. … [Read more...] about Neither Age Nor Health Determines Whether You Need an Estate Plan
The Kiddie Tax is No Child’s Game
If you set up a trust or other investment vehicle for your child, that child could incur taxes at a rate much higher than anticipated. The Kiddie Tax was enacted to prevent parents from transferring investments to the name of their child or children to take advantage of that child’s lower tax rate. Read on to learn more. … [Read more...] about The Kiddie Tax is No Child’s Game
Charitable Planning in Times of Crisis
During times of uncertainty, we tend to feel helpless. This article explores how charitable giving gives us a sense of purpose in trying times. Read on to learn more. … [Read more...] about Charitable Planning in Times of Crisis
How Estate Planning Documents Help Prevent Elder Abuse
As loved ones and parents age, they become more vulnerable to fraudulent schemes. This article explores how a solid estate plan can help protect the elderly from becoming victims. Read on to learn more. … [Read more...] about How Estate Planning Documents Help Prevent Elder Abuse
