The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, but this should be used only as a last-resortRead More
Archive for the ‘Estate Planning’ Category
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Prior-Law Kiddie Tax Rates Retroactively Reinstated
The SECURE Act retroactively reversed unfavorable changes made to the kiddie tax by the Tax Cuts and Jobs Act. Here are the detailsRead More
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Age-Related Tax and Financial Planning Milestones
In an era of uncertainty, you can count on one thing: Time marches on. While you can’t beat Father Time, you can prepare for these age-related tax…Read More
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Tax Issues When Winding Up the Estate of a Loved One
When a loved one who was “financially comfortable” passes away, his or her family must deal with the emotional issues that come with the loss — as…Read More
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When to Update Your Estate Plan
Estate planning isn’t just for the rich and famous. Many people mistakenly think that they don’t need an estate plan anymore because of the latest tax law…Read More
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Is a significant portion of your wealth concentrated in a single stock?
Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the…Read More
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3 reasons you should continue making lifetime gifts
Now that the gift and estate tax exemption has reached a record high of $11.18 million (for 2018), it may seem that gifting assets to loved ones is…Read More
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At your own risk: The pitfalls of DIY estate planning
There’s no law that says you can’t prepare your own estate plan. And with an abundance of online services that automate the creation of wills and other…Read More
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Addressing long-term care costs with a tax-qualified LTC insurance policy
No matter how diligently you prepare, your estate plan can quickly be derailed if you or a loved one requires long-term home health care or an extended…Read More
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Protect your peace of mind with 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…Read More