Undoing an Irrevocable Life Insurance Trust: Options and Alternatives in a Changing Estate Tax Landscape
The irrevocable life insurance trust (ILIT) has long been a staple of estate planning. However, due to the dramatic rise in the federal lifetime gift and estate tax exemption over the past few decades, ILITs are losing some of their luster.
Planning for Real Estate in a Foreign Country
Living abroad is very different from spending a few weeks there. In addition to the challenges of adapting to a foreign culture, prospective buyers must be aware of the financial, legal, and tax implications of buying real estate abroad before signing the dotted line.
Estate Planning for Military Families
It is always good for members of the military and their loved ones to create or revisit their estate plan. Military families face unique estate planning considerations that others do not, especially when a family member is deployed overseas or receives a temporary duty assignment. In addition, service members have access to special benefits and resources that can add complexity to the planning process, so seeking guidance if you are a military family is important.
Is an Income-Tax Time Bomb Lurking in Your Estate Plan?
As the federal estate tax exemption has ballooned from $5 million in 2011 to $13.99 million today, the need for estate tax planning has drastically decreased. However, with a top marginal income tax rate of 37 percent, the focus of estate planning has shifted to a new frontier: income tax basis planning.
Does Treating Your Children Fairly Mean Unequal Inheritances?
When thinking through their estate plan and how they want their assets managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your children may mean giving unequal inheritances.
Being Deployed? Here Is What You Need to Do
You have just received your orders, and you will be deployed shortly. No matter how soon you are leaving, there is still time to ensure that your affairs are in order.
From Game Shows to Estate Plans: Insights from Regis Philbin
Regis Philbin, the Guinness World Record holder for the most hours on US television, was a familiar face in millions of homes for decades. By the time he retired from […]
Planning Beyond the Ring: Estate Insights from George Foreman
Born into an impoverished Houston household in 1949, George Foreman lived a rags-to-riches tale of pure Americana: Olympic gold medalist, heavyweight boxing champion, ordained minister, global pitchman, and father to […]
The Legacy of Film Legend Val Kilmer
Actor Val Kilmer’s passing in April 2025 highlights estate planning issues that can affect almost anyone. Although Kilmer was a celebrity, these issues—including managing real estate in more than one […]