Although revocable trusts are the centerpiece for many estate plans, many clients are confused by what amount of their deposit accounts are insured by the Federal Deposit Insurance Company. To make the rules easier to apply, the Federal Deposit Insurance Company released new rules with a delayed effective date. These rules build on the current concepts while simplifying their application. Read on to learn more. … [Read more...] about What Everyone Should Know about the New FDIC Regulations
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Application of the Updated Life Expectancy Tables
Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers. Read on to learn more. … [Read more...] about Application of the Updated Life Expectancy Tables
What is a Living Trust?
Although you may have heard a lot about living trusts, you may not fully understand what a living trust is. There are a number of different types of living trusts, but the two basic forms are the revocable trust and the irrevocable trust. With the revocable trust, you will still remain in control of the trust and can add assets to the trust, or remove them, as you see fit. The irrevocable trust usually provides more protection from creditors and taxes, but you do lose some control of the assets … [Read more...] about What is a Living Trust?
The Evolution of our Unified Estate and Gift Tax System
Many individuals think that if their estate is below a certain amount that they need not be concerned with Estate Planning. As this article demonstrates, because the Estate Tax evolves constantly, it’s important to talk with a professional to create a plan to accomplish your goals. Read on to learn more. … [Read more...] about The Evolution of our Unified Estate and Gift Tax System
Your Estate Planning To Do List
We understand that your estate planning isn’t necessarily the most fun thing on your to do list; it likely ranks right up there with going to the dentist. However, there’s good news. While you need to go to the dentist twice a year, you only need to meet with your estate planning attorney every three to five years. However, have your estate plan reviewed sooner than the three to five year mark if you have major changes in your life such as health changes, the death of a spouse or trusted … [Read more...] about Your Estate Planning To Do List
