Can I Change My Estate Plan During Divorce?
At such an emotional time, more paperwork is probably the last thing you want on your to-do list. However, taking a few key steps is critical to your financial future.
December 11, 2021
Is Estate Tax Exemption Going to Change?
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
December 10, 2021
Do Gifts Count Toward Estate Taxes?
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
December 9, 2021
Does Anyone Know Where Your Money Is?
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
December 8, 2021
Is There More to Estate Planning Than Writing My Will?
One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.
December 7, 2021
How Do You File Taxes If Your Spouse Dies?
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.
December 6, 2021
Do College Kids Need Estate Planning?
As a legal adult after attaining the age of 18, your child should have in place several legal documents that will allow you to provide support and obtain information, if something unexpected happens to your child.
December 5, 2021
How Much can You Inherit and Not Pay Taxes?
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
December 3, 2021
What Is the First Thing an Executor of a Will Should do?
At some point in your life, there’s a good chance you’ll be tasked with acting as the executor of an estate. The designation is both an honor and an obligation.
December 2, 2021
Who Pays Mortgage When I Pass Away?
One important aspect of estate planning is deciding what will happen to your home after you die. The answer might be fairly cut and dry if the home is fully paid for. If it’s not, though, you’ll need to consider the financial ramifications for your estate and for the person who inherits the home.
December 1, 2021
