The current makeup of the federal government makes it very likely that some type of tax reform will happen within the next couple of years. Many individuals that have comprehensive estate plans in place or are considering engaging in creating a comprehensive strategy may have questions about how such tax…
In the past, a trust was something that seemed useless for many Americans. It was a term often used to refer to the bank accounts of wealthy individuals. However, trust can be useful tools for many individuals. You don’t have to be a millionaire to make use of them, either.…
For some people, the term “estate planning” conjures up images of wealthy families complaining about the estate tax. However, estate planning is an important responsibility for all adults with assets that they wish to leave behind. This is especially true today as most people are becoming increasingly familiar with the…
An important part of your estate plan is making sure that it provides for your heirs in the way you want it to. While you may take pains to make sure your estate plan is comprehensive and covers all your bases, it is important to factor your heirs and their…
Each individual state has its own trusts and estates laws. While there are many similarities among these laws, there are also important differences. Some states are notoriously difficult when it comes to the probate process. Fortunately, other states – like New York – make the process much easier when you…
Trusts are common estate planning tools in which a person can transfer ownership of assets to the trust. While this person is alive, they retain control over the assets in their life. Upon their death, the assets are distributed to the beneficiaries named in the trust. While the Person is…
Your estate plan is a way for you to make very important decisions regarding the future of your personal property, financial holdings and legacy. A proper estate plan is truly a gift. It provides peace of mind to the owner of the estate and grants family, friends, and other heirs…
GOOD FOR CERTAIN SUBSET OF POPULATION A health savings account is another way to save your money, tax free, for an inevitable expense that everyone will have to face and deal with eventually. Unfortunately one of the variables of retirement is that you will never know how much you will…