The 2017 Tax Cuts and Jobs Act had doubled the amount for paying estate tax. Now that advantage is dur to expire in 2025, dramatically reducing the tax exemption. While only high not clients will be directly affected, all clients need to review their estate and tax planning.
Estate planning is about decisions, not about documents, and decisions are weighted on a scale of importance in each situation..
Co-managing finances, while respecting the needs of each spouse, an be a challenge even for “traditional” couples.Legal advisors must take a sympathetic and compassionate approach as couples deal with legal considerations.
While we help business owners prepare for success, we must also help them be prepared for adverse circumstances j- and to think ahead to how they want to transfer their business to others someday in the future.
Bad things can and do happen to even very devoted and very skilled business operators, and having contingency plans is a vital aspect of owning a business.
Big conversations about money and estate planning need to take place between – and among – grandparents, parents, and children. Family conferences make settling elders’ affairs much simpler and help avoid bitter misunderstandings.
Using an irrevocable trust will no long protect heirs from having to pay tax on capital gains on inherited assets…..
There are many aspects of the estate planning prospects that can be handled only by you.
The increase in longevity has created many estate planning “dilemmas” and “ethical issues”….
While estate planning includes the topic of death, there is positive psychology involved and benefits for both family members and the person engaged in the process.
