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.
Will I Owe Taxes on My Life Insurance Benefit?
Life insurance is an essential part of estate planning. When you buy life insurance, it’s important to make sure the policy payout will be enough to take care of your loved ones.
What are the Biggest Estate Planning Mistakes?
Taking a few simple steps now can potentially help save your beneficiaries thousands in legal fees and taxes.
Incorporating Gifting with an Estate Plan
Gifting sounds pretty simple, but there are many ways to do it. There are also several tax ramifications to be aware of.
Does a Beneficiary of a Trust Have to Pay a Tax?
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
How Can I Use Estate Planning for My Small Business?
Small businesses are often caught up in growth cycles, profits and ensuring that products arrive to consumers on time. The life of a small business owner is a hectic one with many owners failing to follow basic estate planning and business law practices.
How Is the Inheritance Tax on My Estate Paid?
Most of my money is in investments, and most of my beneficiaries will face the inheritance tax when I die.
Which Stars Made the Biggest Estate Planning Blunders?
The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
When Exactly Do I Need to Update My Will?
It is also important to realize that it isn’t merely “why” you are updating your will, but “when” you are updating that can make all the difference. Acting too late (or too early) may mean your changes are no longer appropriate or even immediately invalidated.
Can I Protect My Estate with Life Insurance?
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.