Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2022 is just starting, it’s not too early to think about planning for whatever it may bring your way. Read on to learn more. … [Read more...] about Tax Planning for 2022
Cryptocurrency has become increasingly popular as a form of investment in recent years. More and more established financial institutions recognize cryptocurrency and allow its use. As cryptocurrency becomes mainstream, it’s important to consider estate planning implications for holding this digital asset. Read on to learn more. … [Read more...] about Living in a Digital World and the Importance of Planning for Cryptocurrency
As fall turns into winter and the holiday season arrives, it’s natural to review the year, plan for the next, and count your blessings. One of the ways to plan for the next year, and perhaps to address some outstanding concerns in this one, is to consider making annual per donee exclusion gifts. This article will explore annual exclusion gifting and demonstrate how gifts of seemingly modest amounts can be a powerful estate planning tool. Read on to learn more. … [Read more...] about Don’t be a Turkey – Use Your Annual Per Donee Exclusion Amount
Most people don’t look forward to estate planning, so they search for every excuse possible to put it on the backburner. And for those who are young — such as individuals fresh out of college — they assume that they’re too young to get serious about estate planning. However, this line of thinking is a mistake. You’re never too young for estate planning. Once you reach the age of 18, it’s something you should at least think about. You don’t have to take immediate action, but you must keep … [Read more...] about Are You Too Young for Estate Planning?
Let’s get right down to it: the answer is no. It’s never too late to create an estate plan. Sure, it may be ideal to create an estate plan at the exact right time of your life, but things don’t always work out that way. The best thing you can do is act today based on your current circumstances and goals. Here’s why it’s never too late to create an estate plan: Regardless of your age, you have the power to create an estate plan that suits you, your loved ones, and your assets. … [Read more...] about Is it Ever Too Late to Create an Estate Plan?
Many souls believe that if they lack means, they do not need an estate plan. Nothing could be further from the truth. If you die without an estate plan, your assets may not be distributed as you would wish and the results could be downright scary. Read on to learn more. … [Read more...] about It Can Be Scary to Die Without an Estate Plan…the HORRORS of Intestacy
Do it yourself (DIY) estate planning is enticing. It allows you to create an estate plan at your own pace and without having to consult with a professional. And of course, it can probably help you save a few dollars upfront. Before you go down the DIY path, you should consider the many risks associated with doing so. This is usually more than enough for you to realize that it’s a bad idea. Consider the following: You don’t have estate planning expertise: This is why you hire … [Read more...] about What’s the Problem with DIY Estate Planning?
Most people associate Estate Planning with the elderly or very wealthy. This article explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more. … [Read more...] about Neither Age Nor Health Determines Whether You Need an Estate Plan
Are you married? Have you taken the time to discuss estate planning with your spouse? Are you concerned that you’re not on the same page? Maybe you and your spouse already have an estate plan in place. Or perhaps you’ve never even discussed it in the past. Either way, it’s critical that you work together to create an estate plan that suits the both of you. Here are some example questions to address together: What do you want to happen to your assets upon your death? … [Read more...] about Work With Your Spouse to Create an Estate Plan
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article explores how specific bequests may provide unintended results. Read on to learn more. … [Read more...] about How Using Specific Bequests Could Cost Beneficiaries their Inheritance