Prepare Now for Coming Estate Tax Changes
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
Estate planning services refer to the process of managing and distributing one’s assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.
What if My Executor Dies?
When someone passes away, it’s up to their executor to handle the probate process. However, what happens if the executor of a will dies?
How Are Retirees Spending Their Nest Eggs?
After decades of building a solid nest egg, retirement is the time to finally crack into it. Yet, many retirees who were great at saving find themselves less sure about how to spend all that accumulated money.
How Grandfathers and Senior Dads Leave a Legacy of Caring for Their Families
Congratulations, Dad. You’ve raised your children, who now have children of their own. Despite all the obstacles of recent years, the family is thriving. You feel good about how you’ve led your life and are hopeful about the years ahead. The next thing on your agenda: creating a legacy of caring for your family. This Father’s Day, consider how the actions you take now can strengthen your legacy. Your legacy includes sharing the values and history of your family. The next time a grandchild points their phone at you and asks you what your childhood was like or asks to learn more about your own parent’s journey, don’t be shy. Tell them the stories you were told, even if you don’t have every single detail. Teach your adult children by example the importance of planning for the future. Having an estate plan prepared professionally is not overly burdensome and alleviates stress and expense for the family. If you have an estate plan in place, including a will, Power of Attorney, Health Care Power of Attorney and Living Will, talk with them about it. Make sure they know you’ve already taken steps to protect them, even when you’ve passed. Knowing Dad…
What Are Estate Taxes?
Studies suggest that millennials will inherit an astounding $68 trillion in the coming years, making them the wealthiest generation in history. While this may be great news for some, it also comes with significant tax implications.
How is Estate Planning Used to Distribute Property?
It is commonly understood that upon death, our property will pass to someone else. However, the details of exactly how property passes often seem a bit more mysterious.
How Estate Planning Protects Unmarried Couples
It is very important for unmarried couples to execute estate planning documents to make their wishes clear concerning the rights and responsibilities of their significant other.
What to Do When a Spouse Dies
Unfortunately, during the grieving process surviving spouses also need to navigate the complex financial issues that arise after the death of their partner.
Do Heirs Have to Pay Debts from an Estate?
First, debts in a person’s estate are payable from the decedent’s assets in the course of administering their probate estate or administering their living trust estate.
Use Estate Planning to Prepare for Cognitive Decline
Data from sources like the U.S. Census Bureau shows in no uncertain terms that the U.S. population has grown older over the prior two decades.
