What Is the Process of Conservatorship?
A conservatorship, also known as a guardianship, is a legal mechanism set up for people who are unable to manage their affairs.
What Paperwork Is Required to Transfer the Ownership of Home to Children?
Have you considered transferring ownership of your home and wondering what records or paperwork is required? The reason for wanting to transfer will help determine how you should proceed.
Aging Parents and Blended Families Create Estate Planning Challenges
We have seen some step siblings able to all get along fine but they seem to be the exception. More likely, one sibling feels divided loyalty to the birth parent, not the step-parent.
How Do You Divide Inheritance among Children?
First, before making a gift or bequest outright to your youngest son, consider whether now or in the future he will possibly be eligible for governmental assistance based on his disability and his own assets.
How to Prepare for Higher Taxes
President Biden’s proposal to eliminate the step-up for calculating inheritance taxes targets a tactic that has long been a wealth-preservation tool. What are some of the ramifications of the proposal and what, after political wrangling, could be the tax implications for large inherited assets?
Does Living Trust Help with Probate and Inheritance Taxes?
I was told that unlike wills, a trust doesn’t require probate and is not taxable. My main asset is a house that I want to pass on to my son. Would a living trust help?
What Qualifies as a Qualified Charitable Distribution?
Qualified Charitable Distributions, which allow Individual Retirement Account holders in their 70s and older to divert some of their federally taxable required distributions to charity while reducing their federally taxable income, are back after a 2020 hiatus.
Will Inheritance and Gift Taxes Change in 2021?
Facing down an uncertain election outcome and the possibility of tax reform in 2021, many families started transferring substantial amounts of wealth last year, making large gifts to take advantage of the historically high gift and generation-skipping transfer tax exemptions.
Should I Create a Trust?
Establishing a trust is a great first step in estate planning.
What Do I Need to Know about Estate Planning?
Expert tips on why starting your estate plan early, choosing beneficiaries, and thinking about how you want to transfer your wealth to the next generation are critical for your financial future.