There are new tax proposals working their way through the House and Senate. These proposals, if passed, would change retirement savings significantly. Read on to learn more about these proposals and whether they might impact you or your clients.New Tax Proposal re: Retirement Savings … [Read more...]
Consequences of Modifying an Irrevocable Trust
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more.Consequences of Modifying an Irrevocable Trust … [Read more...]
New Estate Tax Proposal
A new estate tax proposal would lower the amount passing free from tax to $3.5 million and increase the rates of taxation. It would also eliminate some tried and true strategies for reducing estate taxation. Read on to learn more about this proposal and its prospects.New Estate Tax Proposal … [Read more...]
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility.Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
What Are 529 Plans and What Are Their Advantages?
What are 529 plans? Can they be held in trusts? Read on to learn more about these plans and why to consider them.What Are 529 Plans and What Are Their Advantages? … [Read more...]
Staying Current on Estate Planning
It’s important for estate planning attorneys to stay up on the latest developments and techniques. The American Academy of Estate Planning Attorney held its semi-annual conference in Atlanta last month. Read on to learn more about the topics discussed at that cutting-edge conference.Staying Current on Estate Planning … [Read more...]
6 Important Estate Planning Considerations – Part 6: Taxes
An estate plan considers many important aspects. One of the many aspects to consider is the impact of taxes. This article examines some of the many ways consideration of taxes might impact an estate plan.6 Important Estate Planning Considerations – Part 6: Taxes … [Read more...]
6 Important Estate Planning Considerations – Part 5: Retirement Assets
Retirement assets may be a very large part of a person’s estate at death. It’s important to consider the income tax ramifications of naming a beneficiary, as well as protecting those assets for the beneficiaries. This article considers some of these issues.6 Important Estate Planning Considerations – Part 5: Retirement Assets … [Read more...]
6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article shows how a revocable trust can provide a more flexible way to achieve a client’s goals.6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...]
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article looks at a couple with three very different children and how they might leave the assets for them in three very different ways.6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...]
