A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable estate planning…Read More
Archive for the ‘Estate Planning’ Category
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Keeping a trust a secret could violate state law
If your estate plan includes one or more trusts, you may have a good reason for wanting to keep them a secret. For example, you may be…Read More
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5 estate planning tips for the sandwich generation
The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the…Read More
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A joint home purchase can ease estate tax liability
If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability,…Read More
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Follow IRS rules to ensure you receive your charitable tax deductions
If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition,…Read More
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Only certain trusts can own S corporation stock
S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, can have…Read More
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If you made gifts last year, you may (or may not) need to file a gift tax return
Gifting assets to loved ones is one of the simplest ways of reducing your taxable estate. However, what may not be as simple is determining whether you…Read More
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Life insurance can be a powerful estate planning tool for nontaxable estates
For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses. It’s been particularly…Read More
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Tax Cuts and Jobs Act expands appeal of 529 plans in estate planning
It’s common for grandparents to want to help ensure their grandchildren will get a high quality education. And, along the same lines, they also want the peace…Read More
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Preserve wealth for yourself and your heirs using asset protection strategies
There are many techniques you can use to protect your assets, from giving them to loved ones to placing them in offshore trusts. It’s important to understand…Read More