Category: Estate Planning Briefs
If you or one of your adult children is getting married, you may be concerned about protecting your family’s assets in the event of a divorce. A prenuptial agreement can be an effective tool for overriding marital property rights and … Read More »
Estate Planning Briefs. Comments Off on A prenup or a DAPT: Which is the better choice?
With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may … Read More »
Estate Planning Briefs. Comments Off on How incomplete nongrantor trusts can help avoid state income taxes
Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option. While a life insurance policy can be … Read More »
Estate Planning Briefs. Comments Off on Consider an intrafamily loan to cover estate taxes
Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. A … Read More »
Estate Planning Briefs. Comments Off on Unleash the power of a nonspringing power of attorney
An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly.
The … Read More »
Estate Planning Briefs. Comments Off on Should you name a trust as IRA beneficiary?
If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treated differently … Read More »
Estate Planning Briefs. Comments Off on Intellectual property requires careful estate planning
If you’re the owner of a small business, you may think of your tight-knit group of employees as a family. If you wish to include them as beneficiaries in your estate plan, it’s critical to be aware of possible unintended … Read More »
Estate Planning Briefs. Comments Off on Take caution when including employees in your estate plan
If you hold significant real estate investments, tenancy-in-common (TIC) ownership can be a powerful, versatile estate planning tool. A TIC interest is an undivided fractional interest in property. The property isn’t split into separate parcels. Rather, each TIC owner has … Read More »
Estate Planning Briefs. Comments Off on Tenancy-in-common: A versatile estate planning tool
If you are about to receive an inheritance from a family member, you can use a qualified disclaimer to refuse the bequest. The assets will then bypass your estate and go directly to the next beneficiary in line. It’s as … Read More »
Estate Planning Briefs. Comments Off on Turn down an inheritance using a qualified disclaimer
If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your … Read More »
Estate Planning Briefs. Comments Off on Educate your children on wealth management