What are My Taxes on a House I Inherited?
When a house is sold, the seller is responsible for paying tax on the profit in the year of the sale.
March 23, 2021
Every Adults Needs a Will and a Health Care Power of Attorney
A serious illness can happen at any age, but just 18% of those 55 and older have a living will, power of attorney for health care and a last will and testament, according to a 2019 study by Merrill Lynch Wealth Management. AZ Central’s recent article entitled “What to know about wills and health care…
March 22, 2021
How Does the Generation-Skipping Transfer Tax Work in Estate Planning?
Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.
March 21, 2021
The Difference between Power of Attorney and Guardianship for Elderly Parents
The difference between power of attorney and guardianship is a common question asked by adult children. Both roles share a duty to provide care and oversight of medical care and health.
March 20, 2021
Planning Future for Nontraditional Families
Some people are concerned that the new conservative 6-3 majority on the Supreme Court will roll back protections for non-traditional families. Regardless of the decisions at the Supreme Court, or the impact on the state family courts, there are many ways that non-traditional families can maintain control.
March 19, 2021
It Is Important to have a Digital Estate Plan
What happens to all your digital accounts, services and property after you die? The official name for all these is a Digital Estate Plan. With the lines increasingly blurred between our on-and off-line lives, it’s more important than ever to have a plan for your digital holdings.
March 18, 2021
What are Most Common Side Effects of COVID-19 Vaccines?
While it may take a while for production to ramp up to the point where a vaccine is readily available to the general public, health experts say there is one thing that’s critical for people to understand before they roll up their sleeves for the shots: The vaccines may cause side effects.
March 16, 2021
When Did You Last Review Beneficiary Designation Forms?
When it comes to your retirement accounts, do you know who your beneficiaries are? These types of accounts have complex distribution rules and significant tax implications for those who inherit them. This complexity is compounded, if there are errors or missing information on your beneficiary forms, as is often the case. Add to this the game-changer SECURE ACT, the largest retirement legislation that has been passed in decades—and there has never been a more important time to review your beneficiary forms.
March 15, 2021
How Do You Plan for the Death of a Spouse?
Beneficiary designations, tying up loose ends, reporting last wishes—here’s what you can do now.
March 14, 2021
