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.
Does My Adult Child Really Need a Will?
You may have spent part of the pandemic updating your estate plan and getting your financial house in order. However, did you ever stop to think about whether your adult child needs a will?
How do I Settle an Estate if I’m Named Executor?
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be tasked with carrying out a loved one’s final wishes.
What Kind of Estate Planning Do I Need During the Pandemic?
The COVID-19 pandemic has made 2020 a nightmare for many people, and inadequate estate planning can exacerbate the pain.
Is the Pandemic Motivating People to Do Estate Planning?
Lack of understanding around estate planning may be leading Americans to avoid getting a will, even as interest is on the rise due to the global pandemic, according to a new survey from financial services leader Policygenius.
Will I Get A Bill as My Inheritance?
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
What Should I Know about a Living Trust?
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.
What’s the Best Way to Go with Intrafamily Loans?
As parents, we often want to help our adult children who need a financial boost. Many times, this assistance comes in the form of a loan.
Federal Estate Tax Exemption Sunset Is Not Far Off
Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming—and with the election on its way, it could be sooner than you think.
Dividing Pablo Picasso’s Estate, a Disaster
When Pablo Picasso died in 1973 at the age of 91, he left behind about 45,000 works of art – so many that it would take the entire Empire State Building to display them all at the same time – and yet he didn’t leave a will.