If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being…Read More
Archive for the ‘Estate Planning’ Category
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Have you made your burial wishes clear?
It may be difficult to consider, but funeral arrangements are a critical component of your estate plan. Failure to clearly communicate your wishes regarding the disposition of…Read More
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Double duty giving with charitable gift annuities
If you’re charitably inclined, you may wish to consider a charitable gift annuity. It can combine the benefits of an immediate income tax deduction and a lifetime…Read More
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21st century estate planning accounts for digital assets
Even though you can’t physically touch digital assets, they’re just as important to include in your estate plan as your material assets. Digital assets may include online…Read More
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Basis consistency rules may come into play if you’re administering an estate or inheriting property
When it comes to tax law changes and estate planning, the substantial increases to the gift and estate tax exemptions under the Tax Cuts and Jobs Act…Read More
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The BDIT: A trust with a twist
The beneficiary defective inheritor’s trust (BDIT) allows you to enjoy the benefits of a traditional trust without giving up control over your property. BDITs can hold a…Read More
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A SLAT offers estate planning benefits and acts as a financial backup plan
The most effective estate planning strategies often involve the use of irrevocable trusts. But what if you’re uncomfortable placing your assets beyond your control? What happens if…Read More
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Fortify your estate plan against undue influence claims
Of course, you expect the declarations in your will to be carried out, as required by law. Usually, that’s exactly what happens with wills. However, it’s possible…Read More
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The pros and cons of a SCIN
Many estate planning techniques are intended to minimize or even eliminate gift and estate taxes when transferring assets to family members. Sometimes, the most powerful techniques also…Read More
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Naming a minor as beneficiary of a life insurance policy or retirement plan can lead to unintended outcomes
A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. While making…Read More