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.
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.
Does a Trust Have to Be Funded to Be Valid?
If you don’t also fund it, unexpected things can happen and some of those things may not reflect the intent to the grantor.
How Much Should We Tell the Children about the Estate Plan?
Even those with thorough estate plans might have neglected to discuss details with potential heirs.
Do I Assume My Parents’ Timeshare when They Die?
Can an owner of a timeshare will the timeshare back to the timeshare corporation and does the corporation have to accept it?
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.
How Do You Keep Inheritance Money Separate?
Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.
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.