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….
A sole benefit trust is a helpful estate planning tool if your family has cross-generational support needs. Read on to find out more about a sole benefit trust and its…
A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person (grantor) creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for…
“Decedent” is a legal term related to estate planning and one that refers to a person who has died with unsatisfied legal obligations. At the end of their life, a…
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding one to your estate plan. What Is a Testamentary Trust? A testamentary trust allows…
Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate…
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death. When you make a Totten trust,…
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…
