Recently, the federal estate tax has been popping up in headlines. While not usually subject to such buzz, the federal estate tax can have important implications for many Americans. Did you know that there are proposed changes that would significantly reduce the federal estate Continue reading
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Retirement Tips If the Capital Gains Tax Changes
An important part of responsible retirement planning is taking into consideration the impact taxation may have on your retirement resources. Without proper planning, taxes can eat up a big chunk of retirement savings you may have been counting on to support yourself through your Continue reading
3 Key Reasons Why Single Parents Need to Update Their Estate Plan When They Move to a New State
Are you a single parent? If so, estate planning may be twice as important as it is for married couples. You want to make sure that your child will be cared for no matter what. You also want to make sure that your child will be cared for no matter where you live, but this is especially Continue reading
Tips for Preparing for a Possible Estate Tax Change
Are you concerned about the buzz surrounding potential estate tax changes? The good news may be that the federal estate tax is unlikely to impact the majority of Americans, even if the exclusion is slightly reduced from its current floor of $11.7 million per individual or $23.4 Continue reading
Understanding the Home Sale Tax Exclusion
Are you considering selling your home? If so, it can be important to understand the home sale tax exclusion so you can take steps to help make sure you qualify for the tax benefit, even if it means adjusting your plans by a few months. The amount of the exclusion differs if you Continue reading
Including an Arbitration Clause in Trust Agreements
Are you curious about creating a trust as part of your estate plan? If so, you may have many questions. Among them may concern what might happen in the future if the person you name as trustee has a disagreement with the trust beneficiaries. Who will settle a dispute? How much Continue reading
The Ins and Outs of SLATs
Did you know that a popular estate planning tool for married couples, a Spousal Lifetime Access Trust (SLATs), may be a good choice for you if you and your spouse would like to remove assets from your taxable estate but preserve access for one of the two of you during your lifetime? Continue reading
Estate Planning Tips When You Near the Tax Limits
Did you know that the estate tax exemption, currently set at $11.7 million for singles and $23.4 million for married couples, is set to expire in 2026? The current administration, however, has signaled a desire to reduce the exemption, though no one knows exactly when that might Continue reading
Why You Need an Elder Law Attorney in Addition to an Estate Planning Attorney
Do estate planning attorneys and elder law attorneys practice the same type of law? Estate planning typically involves end of life planning for the disposition of assets. Thus, many people are under the assumption that elder law, because it addresses people in the later years of Continue reading
Two Potential Tax Changes That Could Impact Your Estate Planning
Now that President Biden has been formally inaugurated as the President of the United States and the Democrats have control of the House and the Senate, have you considered the impact that a new tax plan may have on your estate plans? There may be two potential tax changes that Continue reading