Tag: estate and gift tax planning
If you have outstanding loans to your children, grandchildren or other family members, consider forgiving those loans to take advantage of the current, record-high $11.58 million gift and estate tax exemption. Bear in mind that in 2026, the exemption amount will … Read More »
Estate Planning Briefs. Comments Off on Now may be the time to forgive intrafamily loans
If you’ve invented something during your lifetime and had it patented, your estate includes intellectual property (IP). The same goes for any copyrighted works. These assets can hold substantial value, and, thus, must be addressed by your estate plan. However, … Read More »
Estate Planning Briefs. Comments Off on Get smart when tackling estate planning for intellectual property
Payable-on-death (POD) accounts provide a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank accounts, certificates of deposit or even brokerage accounts. Setting one up is as easy as providing the bank … Read More »
Estate Planning Briefs. Comments Off on Have you coordinated your payable-on-death accounts with your estate plan?
Whether you’re moving to another country for work-related reasons, retirement, or want an opportunity to experience a new culture, it’s essential to understand the potential tax and estate planning implications. If you don’t, you could be hit with some unpleasant … Read More »
Estate Planning Briefs. Comments Off on If you’re planning to move overseas, it’s time for an estate plan review
IRS confirms large gifts now won’t hurt post-2025 estates
The IRS has issued final regulations that should provide comfort to taxpayers interested in making large gifts under the current gift and estate tax regime. The final regs generally adopt, with some … Read More »
Uncategorized. Comments Off on IRS confirms large gifts now won’t hurt post-2025 estates
Life insurance can be a powerful financial and estate planning tool, but its benefits can be reduced or even eliminated if you designate the wrong beneficiary or fail to change beneficiaries when your circumstances change.
Common pitfalls to avoid include:
Naming your … Read More »
Estate Planning Briefs. Comments Off on 3 pitfalls to avoid when naming a beneficiary of a life insurance policy
The Tax Cuts and Jobs Act (TCJA) made only one change to the federal gift and estate tax regime, but it was a big one. It more than doubled the combined gift and estate tax exemption, as well as the … Read More »
Estate Planning Briefs. Comments Off on Flex plan: In an unpredictable estate planning environment, flexibility is key
There are good reasons why estate planning advisors recommend you revisit and, if necessary, revise your estate plan periodically: changing circumstances, including family situations and new tax laws. While it’s relatively simple to change a beneficiary, what if an irrevocable … Read More »
Estate Planning Briefs. Comments Off on Don’t worry! A broken trust can be fixed
Despite what you might think, estate planning isn’t limited to only the rich and famous. In fact, your family is likely to benefit from a comprehensive plan that divides your wealth, protects your well-being and provides a compass for your … Read More »
Estate Planning Briefs. Comments Off on Who needs an estate plan? You do!
A primary estate planning goal for most people is to hold on to as much of their wealth as possible to pass on to their children and other loved ones. To achieve this, you must limit estate tax liability and … Read More »
Estate Planning Briefs. Comments Off on When it comes to asset protection, a hybrid DAPT offers the best of both worlds