In the wake of the pandemic, rising inflation, mass shooting tragedies, and other events, more people recognize that they need to plan for the future. Yet while financial planning has…
Estate planning can be complicated. The person you name as your executor will be accountable for a number of important tasks, even in managing the administration of a small estate….
Estate planning can be complicated if you have a close family member or ex-spouse you have an estranged relationship with. Estrangement refers to a breakdown in a relationship, such as…
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. RMDs begin when a person reaches either age 72, 70½ if they…
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are…
On July 8, 2022, the Internal Revenue Service issued new guidance that allows a deceased person’s estate to elect “portability” of their estate tax exemption and unused gift for up…
Saying goodbye to a loved one is heartbreaking. Making final arrangements can be overwhelming, and knowing what you are allowed to do to fulfill your loved one’s wishes is important,…
Grantor Retained Annuity Trusts (GRATs) are a mechanism by which wealthier individuals and couples can transfer appreciating assets to their heirs and minimize gift or estate taxes. High-net-worth individuals and…
Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute…
If your spouse dies, you may have to decide whether or when to sell your house. There are some tax considerations that go into that decision. The biggest concern when…
