In “Gift Tax Exclusion 101, Part I”, we covered the basics of the Annual Gift Tax Exclusion’s general rule and the exceptions.  In Part II, we’ll discuss the implications of excess (or taxable) gifting for the Lifetime Gift Tax Exemption and the Personal Estate Tax Exemption; each is set at 5.45 million for 2016. To…

The death of legendary musician Prince on April 21, 2016 at the age of 57 rocked the world of 80’s music fans.  His music will endure, but what about his real legacy?  According to court filings in Minnesota, no will has been located.  What happens if Prince died without a will or trust?   Who…

You may have a retirement plan, but is there a gaping hole in your plan – one that threatens to unravel the whole thing?  That gaping hole may be long-term care planning. If you haven’t given it much thought, consider the following facts the U.S. News and World Report published this year: Who is prepared?…

“Success is the sum of details.” -Harvey S. Firestone The Hunt for Red October, Patriot Games, Clear and Present Danger, and The Sum of All Fears…ring any bells?  Bestselling author, Tom Clancy, acquired a fortune worth over 100 million dollars during his life.  While he was mostly known for his successful books, the bulk of…

For IRAs and Other Tax-Deferred Retirement Accounts Naming the right beneficiary for tax-deferred retirement accounts is critical. Most people want to continue the tax-deferred growth for as long as possible, pay the least amount in income taxes and get the maximum stretch-out. Required distributions after the owner dies will be based on the new beneficiary’s…

You can’t create wealth until you preserve it first. Each dollar lost unnecessarily isn’t just a single dollar lost, but a compounded dollar lost. A dollar not lost allows wealth to compound from a higher floor. Losses can occur from many places beyond investments: property, income, taxes and fees. It is well worth paying for…

Trusts are some of the most valuable tools for estate and wealth planning, but some unscrupulous individuals and companies can seriously harm your family’s financial and legal situation, by offering one-sized fits all scam trust plans or by proposing something that promises the moon, most typically either 100% avoidance of federal income taxes or 100%…

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. However, if property has appreciated and there isn’t sufficient insurance for replacement value, any losses must be paid out of pocket. To protect your wealth from these kinds of losses, it is important to determine replacement values so…

The Wealth Advisor These Four Childfree Prospect Tips Will Grow Your Business – And They’re Not What You Think Childfree individuals and couples often face choices, decisions, and questions, which you are uniquely qualified to address.  Like many allied financial professionals, you may focus on helping clients pass the maximum amount of wealth to their…

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