The Secure Act of 2019 eliminated many of the advantages the so-called stretch IRA offered heirs.
Having an estate plan is among the most important things you can do for your loved ones. It is, however, a task many of us dread and put off dealing with until later in life. If there is one thing we can recommend, it is that it is never too early to start planning. However, it can be too late. Do you have an estate plan that will provide for your loved ones, in the event of death or upon incapacity?
To paraphrase Mark Twain: reports of the death of state estate taxes are greatly exaggerated. In fact, there are recent signs that states are starting to beef up their estate tax laws, instead of tearing them down. This, of course, is bad news for wealthier Americans, who had hoped that state lawmakers would continue burying these taxes.
Estate planning attorneys are getting mobbed with questions. Here is some timely advice from three attorneys on what families and business owners should be doing to prepare, in case the unimaginable happens.
For obvious reasons, including control, privacy, asset protection, etc., many clients are interested in putting assets into a trust. For many retirees, their IRA is among their biggest assets. It’s only natural to want to put the IRA into a trust.
Many A-listers have an impressive fortune worth millions and sometimes even billions of dollars, but not all of them intend to pass on this wealth from one generation to another.
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?