You’ve most likely accumulated various tangible assets over your lifetime. These may include automobiles, personal property, or art. It’s relatively easy to account for such assets in your estate plan,
When a person considers an “estate plan,” they typically think of a will. And there’s a good reason: The cornerstone of an estate plan is a well-crafted, up to date
With little effort, you can systematically reduce your taxable estate thanks to the annual gift tax exclusion. And while you typically don’t have to file a gift tax return, in some
Including a revocable trust in your estate plan yields many benefits. This trust type allows you to lower probate expenses, keep your financial affairs private, and provide for the management
If you’re charitably inclined and list your deductions on your tax return, you may be able to deduct those donations. The key word is “may” because there are certain requirements
One of the golden rules of estate planning is to revisit your plan after a significant life event. Such life events may include getting married, having a child, going through
The U.S. Department of Health and Human Services reports that roughly 70% of Americans age 65 or over will require some form of long-term care (LTC). How will you pay
A buy-sell agreement should be a component of your estate plan if you hold an interest in a business that’s closely held or family owned. The buy-sell agreement provides for
Time is running out to take advantage of the current federal gift and estate tax exemption ($13.61 million for 2024). The amount will drop to an inflation-adjusted $5 million in
Few estate planning subjects are as misunderstood as probate. Probate is public, which is its biggest downside, and the one that grabs the most attention. Indeed, anyone who’s interested can
