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Creating a living will ensures your future health care decisions and plans are respected. A living will is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself.
Read More »With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service.
Read More »Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing their general inheritance situation can change their decision-making process and lead to better outcomes.
Read More »With multiple generations getting together for holiday meals, gift exchanges and quality time, these annual gatherings present an opportunity to broach sensitive but important topics with your aging loved ones.
Read More »There are some serious drawbacks to many options for giving gifts to grandchildren. Either there are no tax or estate planning advantages, or you have no control of the funds (or lose control after a certain point), or the money could affect a grandchild’s eligibility for financial aid.
Read More »Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two.
Read More »Trusts are legal arrangements used in estate planning, alongside wills and advance directives.
Read More »Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for.
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