Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read on to see the protections a trust can offer that a direct designation of the individual would not. Naming a Trust as Beneficiary of an IRA … [Read more...] about Naming a Trust as Beneficiary of an IRA
If you’re young and unmarried, do you really need an estate plan? The answer is “yes,” if you care what happens to you and your stuff. Read on to find out how an estate plan can help someone who is young and unmarried. Estate Planning is for You, Not Just Your Parents or Grandparents … [Read more...] about Estate Planning is for You, Not Just Your Parents or Grandparents
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their … [Read more...] about No Charitable Deduction in 2018?
Lottery winners often end up in bankruptcy. Learn how an estate planning attorney can help you avoid mistakes and plan for your newfound wealth. The article looks at ways to protect the wealth and ways to benefit charity and others. Planning for Lottery Winners, Part 2 of 2 … [Read more...] about Planning for Lottery Winners, Part 2 of 2
Would you be interested in a way to save money for education and get tax benefits simultaneously? A 529 plan might be what you’re seeking. Find out more by reading the benefits of a 529 plan. What’s a 529 Plan and What Are the Benefits to Using One? … [Read more...] about What’s a 529 Plan and What Are the Benefits to Using One?
A lucky winner recently won $320 million in the lottery. This article looks at an example of a prior winner’s mistakes. The next article in the series will examine strategies for lottery winners. Planning for Lottery Winners, Part 1 of 2 … [Read more...] about Planning for Lottery Winners, Part 1 of 2
You may already be familiar with the basic concept behind a Power of Attorney. In fact, you may have already executed a Power of Attorney (POA) and/or been named as the Agent under a POA for one reason or another. Unfortunately, a Power of Attorney is also one of the most frequently abused legal … [Read more...] about How Much Power Is in a Power of Attorney?
The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just … [Read more...] about Estate Planning: It’s Not Just About the Estate Taxes
The new tax law brought a cap of $10,000 on federal deduction for state and local taxes. People are trying different ways to get around the cap. Some of the ways work and others could land you in hot water. Read the article to find out more. Planning to Avoid Too Much SALT … [Read more...] about Planning to Avoid Too Much SALT
Trusts have many uses. Perhaps the most important is that they can provide privacy at death. Garry Shandling is thought to have used a trust to provide privacy for those he left behind. Trusts for Privacy … [Read more...] about Trusts for Privacy