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
Tag: Estate Planning
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
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
Why Do Trusts Fail?
Did you know that a trust is a vehicle into which you place assets to be managed by a selected trustee for the benefit of the trust’s beneficiaries? There can be two essential elements to a trust. First, there is the trust itself, which is created through a legal document that 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
How Do I Choose an Estate Planning Attorney Near Me?
If you finally reached the important decision to put an estate plan in place, you may have asked yourself, “How do I choose an estate planning attorney near me?” This can be a good question and a difficult one to answer if you do not know where to begin. A cursory search of local Continue reading
Understanding Prenuptial Agreements and How to Add One to Your Estate Planning
Do you think that prenuptial agreements are only for the very wealthy or merely a plot point in movies about dynastic families with multiple properties? The truth is that pre-nuptial agreements can be helpful in many different situations, specifically if you may be getting married Continue reading