If you’re considering making asset transfers to your grandchildren or great grandchildren in your estate plan, be sure to address the federal generation-skipping transfer (GST) tax. This tax ensures that
“Decanting” an irrevocable trust allows a trustee to use their distribution powers to transfer assets from one trust into another with different, often more favorable, terms. Much like decanting wine
When it comes to estate planning, many people struggle with the important decision of whether to share the details of their plans with family members. There’s no one-size-fits-all answer —
For 2025, the federal gift and estate tax exemption amount is $13.99 million, which means most people won’t be liable for these taxes. However, capital gains tax on inherited assets
If your estate planning goals include distributing your wealth while also encouraging specific behaviors or achievements among your heirs, using an incentive trust may be the right addition to your
It’s common for parents to leave their primary residence or a vacation home to their children when planning their estate. While your parents’ wills or trusts may specify who gets
You may be wondering whether you’re required to file a gift tax return if you’ve given a significant financial gift to a family member. Even if no tax is due,
Having an estate plan helps make sure your final wishes are clearly documented and respected, even if you’re single and have no children. Estate planning isn’t solely about passing assets
In your estate plan, life insurance plays a vital role because its proceeds can provide for your family in the event of your untimely death. And for wealthier families, life
A popular estate planning tool that allows you to manage your assets during your lifetime and can assist in having a smooth transfer of those assets to your family after
