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Estate Planning & Trusts
As the popularity of trusts has increased over recent years, the number of individuals asked to serve as a trustee for loved ones or friends has multiplied. Deciding how best to cope with these new situations can be confusing for those individuals and financial professional ...
Often Overlooked Advantages of Revocable Trusts Revocable and amendable trusts are heralded as superior estate planning devices because of their ability to handle situations that cannot be addressed by traditional will-based planning. For example, revocable trusts ...
Many of us have created trusts for a large variety of reasons. Among other attractions, trusts can offer privacy, disability planning, probate avoidance, tax avoidance, asset management, and creditor protection for our loved ones. In addition, many Americans have created po ...
We thought as a generation we had weathered everything life could throw at us. We endured the Cold War, Vietnam, Watergate, two Gulf Wars, 9/11, and a Great Recession. We were ready to relax and enjoy retirement. Then, from nowhere, came the Covid-19 pandemic. As estate ...
In late December of 2019, Congress enacted new legislation designed to allow older Americans additional tax-deductible ways to grow their qualified retirement plans. Unfortunately, this Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) ends the righ ...
After enactment of the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) on January 1, 2020, clients now need to re-examine their estate planning with their advisors with regard to their IRAs and other qualified retirement plans. As we noted in ...
Each year, the approaching Holidays spark questions about the federal gift tax and its applicability to year-end gifts. We all quite naturally want to make gifts in this season so that we can watch our loved ones enjoy them. For those who can afford to do so, thi ...
Inflation Adjustments and Initial Observations on the 2017 Tax Act’s Impacts: In late October, the Internal Revenue Service issued its inflation-adjusted exemptions, exclusions and tax brackets to be used for 2018 federal tax returns. See generally, Internal Revenue Notice 2 ...
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