Tag: Estate Planning

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

For many people, two common estate planning goals are contributing to a favorite charity and leaving significant assets to your family under favorable tax terms. A charitable remainder trust (CRT)